Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document Information [Line Items] | ' |
Entity Registrant Name | 'SOUTHERN CO |
Entity Central Index Key | '0000092122 |
Document Type | '10-Q |
Document Period End Date | 30-Sep-14 |
Amendment Flag | 'false |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q3 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 899,812,716 |
Alabama Power [Member] | ' |
Document Information [Line Items] | ' |
Entity Registrant Name | 'ALABAMA POWER CO |
Entity Central Index Key | '0000003153 |
Entity Filer Category | 'Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 30,537,500 |
Georgia Power [Member] | ' |
Document Information [Line Items] | ' |
Entity Registrant Name | 'GEORGIA POWER CO |
Entity Central Index Key | '0000041091 |
Entity Filer Category | 'Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 9,261,500 |
Gulf Power [Member] | ' |
Document Information [Line Items] | ' |
Entity Registrant Name | 'GULF POWER CO |
Entity Central Index Key | '0000044545 |
Entity Filer Category | 'Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 5,442,717 |
Mississippi Power [Member] | ' |
Document Information [Line Items] | ' |
Entity Registrant Name | 'MISSISSIPPI POWER CO |
Entity Central Index Key | '0000066904 |
Entity Filer Category | 'Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,121,000 |
Southern Power [Member] | ' |
Document Information [Line Items] | ' |
Entity Registrant Name | 'SOUTHERN POWER CO |
Entity Central Index Key | '0001160661 |
Entity Filer Category | 'Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Share data in Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Operating Revenues: | ' | ' | ' | ' | ||||
Total operating revenues | $5,339,000,000 | $5,017,000,000 | $14,450,000,000 | $13,160,000,000 | ||||
Other Income and (Expense): | ' | ' | ' | ' | ||||
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries | 718,000,000 | [1],[2] | 852,000,000 | [1],[2] | 1,680,000,000 | [1],[3] | 1,230,000,000 | [1],[3] |
Southern Company [Member] | ' | ' | ' | ' | ||||
Operating Revenues: | ' | ' | ' | ' | ||||
Retail revenues | 4,558,000,000 | 4,319,000,000 | 12,186,000,000 | 11,237,000,000 | ||||
Wholesale revenues | 600,000,000 | 520,000,000 | 1,719,000,000 | 1,406,000,000 | ||||
Other electric revenues | 169,000,000 | 166,000,000 | 503,000,000 | 477,000,000 | ||||
Other revenues | 12,000,000 | 12,000,000 | 42,000,000 | 40,000,000 | ||||
Total operating revenues | 5,339,000,000 | 5,017,000,000 | 14,450,000,000 | 13,160,000,000 | ||||
Operating Expenses: | ' | ' | ' | ' | ||||
Fuel | 1,656,000,000 | 1,580,000,000 | 4,765,000,000 | 4,216,000,000 | ||||
Purchased power | 194,000,000 | 145,000,000 | 514,000,000 | 367,000,000 | ||||
Other operations and maintenance | 1,021,000,000 | 928,000,000 | 3,026,000,000 | 2,849,000,000 | ||||
Depreciation and amortization | 514,000,000 | 480,000,000 | 1,515,000,000 | 1,422,000,000 | ||||
Taxes other than income taxes | 258,000,000 | 243,000,000 | 751,000,000 | 710,000,000 | ||||
Estimated loss on Kemper IGCC | 418,000,000 | 150,000,000 | 798,000,000 | 1,140,000,000 | ||||
Total operating expenses | 4,061,000,000 | 3,526,000,000 | 11,369,000,000 | 10,704,000,000 | ||||
Operating Income (Loss) | 1,278,000,000 | 1,491,000,000 | 3,081,000,000 | 2,456,000,000 | ||||
Other Income and (Expense): | ' | ' | ' | ' | ||||
Allowance for equity funds used during construction | 63,000,000 | 53,000,000 | 182,000,000 | 139,000,000 | ||||
Interest expense, net of amounts capitalized | -207,000,000 | -202,000,000 | -623,000,000 | -628,000,000 | ||||
Other income (expense), net | -7,000,000 | -5,000,000 | -20,000,000 | -31,000,000 | ||||
Total other income and (expense) | -151,000,000 | -154,000,000 | -461,000,000 | -520,000,000 | ||||
Earnings (Loss) Before Income Taxes | 1,127,000,000 | 1,337,000,000 | 2,620,000,000 | 1,936,000,000 | ||||
Income taxes (benefit) | 392,000,000 | 468,000,000 | 889,000,000 | 657,000,000 | ||||
Net Income (Loss) | 735,000,000 | 869,000,000 | 1,731,000,000 | 1,279,000,000 | ||||
Less: Net income attributable to noncontrolling interest/Dividends on preferred and preference stock of subsidiaries | 17,000,000 | 17,000,000 | 51,000,000 | 49,000,000 | ||||
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries | 718,000,000 | 852,000,000 | 1,680,000,000 | 1,230,000,000 | ||||
Earnings per share (EPS) - | ' | ' | ' | ' | ||||
Basic EPS (in dollars per share) | $0.80 | $0.97 | $1.88 | $1.41 | ||||
Diluted EPS (in dollars per share) | $0.80 | $0.97 | $1.87 | $1.40 | ||||
Average number of shares of common stock outstanding (in millions) | ' | ' | ' | ' | ||||
Basic (in shares) | 898 | 878 | 894 | 874 | ||||
Diluted (in shares) | 902 | 881 | 898 | 879 | ||||
Cash dividends paid per share of common stock (in dollars per share) | $0.53 | $0.51 | $1.56 | $1.50 | ||||
Alabama Power [Member] | ' | ' | ' | ' | ||||
Operating Revenues: | ' | ' | ' | ' | ||||
Retail revenues | 1,512,000,000 | 1,438,000,000 | 4,058,000,000 | 3,800,000,000 | ||||
Wholesale revenues, non-affiliates | 72,000,000 | 66,000,000 | 222,000,000 | 186,000,000 | ||||
Wholesale revenues, affiliates | 31,000,000 | 47,000,000 | 168,000,000 | 163,000,000 | ||||
Other revenues | 54,000,000 | 53,000,000 | 166,000,000 | 155,000,000 | ||||
Total operating revenues | 1,669,000,000 | 1,604,000,000 | 4,614,000,000 | 4,304,000,000 | ||||
Operating Expenses: | ' | ' | ' | ' | ||||
Fuel | 442,000,000 | 467,000,000 | 1,288,000,000 | 1,240,000,000 | ||||
Purchased power, non-affiliates | 57,000,000 | 36,000,000 | 153,000,000 | 84,000,000 | ||||
Purchased power, affiliates | 54,000,000 | 30,000,000 | 140,000,000 | 102,000,000 | ||||
Other operations and maintenance | 334,000,000 | 316,000,000 | 989,000,000 | 965,000,000 | ||||
Depreciation and amortization | 174,000,000 | 170,000,000 | 521,000,000 | 487,000,000 | ||||
Taxes other than income taxes | 88,000,000 | 85,000,000 | 265,000,000 | 262,000,000 | ||||
Total operating expenses | 1,149,000,000 | 1,104,000,000 | 3,356,000,000 | 3,140,000,000 | ||||
Operating Income (Loss) | 520,000,000 | 500,000,000 | 1,258,000,000 | 1,164,000,000 | ||||
Other Income and (Expense): | ' | ' | ' | ' | ||||
Allowance for equity funds used during construction | 15,000,000 | 7,000,000 | 36,000,000 | 23,000,000 | ||||
Interest expense, net of amounts capitalized | -63,000,000 | -65,000,000 | -188,000,000 | -196,000,000 | ||||
Other income (expense), net | 3,000,000 | 0 | -5,000,000 | 1,000,000 | ||||
Total other income and (expense) | -45,000,000 | -58,000,000 | -157,000,000 | -172,000,000 | ||||
Earnings (Loss) Before Income Taxes | 475,000,000 | 442,000,000 | 1,101,000,000 | 992,000,000 | ||||
Income taxes (benefit) | 183,000,000 | 174,000,000 | 429,000,000 | 390,000,000 | ||||
Net Income (Loss) | 292,000,000 | 268,000,000 | 672,000,000 | 602,000,000 | ||||
Dividends on Preferred and Preference Stock | 10,000,000 | 10,000,000 | 30,000,000 | 30,000,000 | ||||
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries | 282,000,000 | 258,000,000 | 642,000,000 | 572,000,000 | ||||
Georgia Power [Member] | ' | ' | ' | ' | ||||
Operating Revenues: | ' | ' | ' | ' | ||||
Retail revenues | 2,452,000,000 | 2,314,000,000 | 6,502,000,000 | 5,922,000,000 | ||||
Wholesale revenues, non-affiliates | 80,000,000 | 77,000,000 | 269,000,000 | 212,000,000 | ||||
Wholesale revenues, affiliates | 7,000,000 | 3,000,000 | 38,000,000 | 14,000,000 | ||||
Other revenues | 92,000,000 | 90,000,000 | 277,000,000 | 260,000,000 | ||||
Total operating revenues | 2,631,000,000 | 2,484,000,000 | 7,086,000,000 | 6,408,000,000 | ||||
Operating Expenses: | ' | ' | ' | ' | ||||
Fuel | 684,000,000 | 691,000,000 | 2,055,000,000 | 1,767,000,000 | ||||
Purchased power, non-affiliates | 77,000,000 | 64,000,000 | 219,000,000 | 175,000,000 | ||||
Purchased power, affiliates | 172,000,000 | 152,000,000 | 522,000,000 | 503,000,000 | ||||
Other operations and maintenance | 456,000,000 | 402,000,000 | 1,334,000,000 | 1,230,000,000 | ||||
Depreciation and amortization | 211,000,000 | 201,000,000 | 628,000,000 | 605,000,000 | ||||
Taxes other than income taxes | 111,000,000 | 102,000,000 | 320,000,000 | 292,000,000 | ||||
Total operating expenses | 1,711,000,000 | 1,612,000,000 | 5,078,000,000 | 4,572,000,000 | ||||
Operating Income (Loss) | 920,000,000 | 872,000,000 | 2,008,000,000 | 1,836,000,000 | ||||
Other Income and (Expense): | ' | ' | ' | ' | ||||
Allowance for equity funds used during construction | 13,000,000 | 11,000,000 | 29,000,000 | 24,000,000 | ||||
Interest expense, net of amounts capitalized | -88,000,000 | -92,000,000 | -262,000,000 | -279,000,000 | ||||
Other income (expense), net | 1,000,000 | -1,000,000 | 0 | -2,000,000 | ||||
Total other income and (expense) | -74,000,000 | -82,000,000 | -233,000,000 | -257,000,000 | ||||
Earnings (Loss) Before Income Taxes | 846,000,000 | 790,000,000 | 1,775,000,000 | 1,579,000,000 | ||||
Income taxes (benefit) | 317,000,000 | 299,000,000 | 660,000,000 | 600,000,000 | ||||
Net Income (Loss) | 529,000,000 | 491,000,000 | 1,115,000,000 | 979,000,000 | ||||
Dividends on Preferred and Preference Stock | 4,000,000 | 4,000,000 | 13,000,000 | 13,000,000 | ||||
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries | 525,000,000 | 487,000,000 | 1,102,000,000 | 966,000,000 | ||||
Gulf Power [Member] | ' | ' | ' | ' | ||||
Operating Revenues: | ' | ' | ' | ' | ||||
Retail revenues | 365,971,000 | 335,916,000 | 979,435,000 | 901,343,000 | ||||
Wholesale revenues, non-affiliates | 33,689,000 | 29,431,000 | 103,616,000 | 82,533,000 | ||||
Wholesale revenues, affiliates | 20,591,000 | 16,701,000 | 96,996,000 | 65,206,000 | ||||
Other revenues | 18,083,000 | 17,313,000 | 48,950,000 | 47,726,000 | ||||
Total operating revenues | 438,334,000 | 399,361,000 | 1,228,997,000 | 1,096,808,000 | ||||
Operating Expenses: | ' | ' | ' | ' | ||||
Fuel | 164,497,000 | 136,216,000 | 478,163,000 | 397,409,000 | ||||
Purchased power, non-affiliates | 26,813,000 | 17,180,000 | 56,605,000 | 41,369,000 | ||||
Purchased power, affiliates | 3,611,000 | 15,829,000 | 19,299,000 | 30,075,000 | ||||
Other operations and maintenance | 85,097,000 | 76,964,000 | 250,425,000 | 232,472,000 | ||||
Depreciation and amortization | 38,487,000 | 37,345,000 | 109,354,000 | 111,479,000 | ||||
Taxes other than income taxes | 31,229,000 | 28,051,000 | 83,786,000 | 75,437,000 | ||||
Total operating expenses | 349,734,000 | 311,585,000 | 997,632,000 | 888,241,000 | ||||
Operating Income (Loss) | 88,600,000 | 87,776,000 | 231,365,000 | 208,567,000 | ||||
Other Income and (Expense): | ' | ' | ' | ' | ||||
Allowance for equity funds used during construction | 3,195,000 | 1,663,000 | 8,276,000 | 4,318,000 | ||||
Interest expense, net of amounts capitalized | -12,859,000 | -13,988,000 | -39,417,000 | -42,650,000 | ||||
Other income (expense), net | -627,000 | -337,000 | -1,857,000 | -2,704,000 | ||||
Total other income and (expense) | -10,291,000 | -12,662,000 | -32,998,000 | -41,036,000 | ||||
Earnings (Loss) Before Income Taxes | 78,309,000 | 75,114,000 | 198,367,000 | 167,531,000 | ||||
Income taxes (benefit) | 29,511,000 | 28,109,000 | 74,228,000 | 62,950,000 | ||||
Net Income (Loss) | 48,798,000 | 47,005,000 | 124,139,000 | 104,581,000 | ||||
Dividends on Preferred and Preference Stock | 2,251,000 | 2,251,000 | 6,752,000 | 5,453,000 | ||||
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries | 46,547,000 | 44,754,000 | 117,387,000 | 99,128,000 | ||||
Mississippi Power [Member] | ' | ' | ' | ' | ||||
Operating Revenues: | ' | ' | ' | ' | ||||
Retail revenues | 228,331,000 | 230,710,000 | 646,695,000 | 613,274,000 | ||||
Wholesale revenues, non-affiliates | 82,952,000 | 82,937,000 | 254,642,000 | 219,984,000 | ||||
Wholesale revenues, affiliates | 38,639,000 | 6,999,000 | 81,593,000 | 31,242,000 | ||||
Other revenues | 4,701,000 | 4,560,000 | 13,829,000 | 13,075,000 | ||||
Total operating revenues | 354,623,000 | 325,206,000 | 996,759,000 | 877,575,000 | ||||
Operating Expenses: | ' | ' | ' | ' | ||||
Fuel | 168,708,000 | 138,148,000 | 458,976,000 | 384,905,000 | ||||
Purchased power, non-affiliates | 3,475,000 | 2,077,000 | 16,163,000 | 5,222,000 | ||||
Purchased power, affiliates | 1,966,000 | 14,691,000 | 16,630,000 | 28,302,000 | ||||
Other operations and maintenance | 65,758,000 | 56,907,000 | 191,923,000 | 166,175,000 | ||||
Depreciation and amortization | 23,382,000 | 22,202,000 | 70,318,000 | 67,644,000 | ||||
Taxes other than income taxes | 22,344,000 | 21,071,000 | 63,198,000 | 60,760,000 | ||||
Estimated loss on Kemper IGCC | 418,000,000 | 150,000,000 | 798,000,000 | 1,062,000,000 | ||||
Total operating expenses | 703,633,000 | 405,096,000 | 1,615,208,000 | 1,775,008,000 | ||||
Operating Income (Loss) | -349,010,000 | -79,890,000 | -618,449,000 | -897,433,000 | ||||
Other Income and (Expense): | ' | ' | ' | ' | ||||
Allowance for equity funds used during construction | 32,223,000 | 32,624,000 | 107,685,000 | 87,740,000 | ||||
Interest expense, net of amounts capitalized | -9,416,000 | -8,728,000 | -34,071,000 | -29,526,000 | ||||
Other income (expense), net | -7,764,000 | -375,000 | -11,496,000 | -4,184,000 | ||||
Total other income and (expense) | 15,043,000 | 23,521,000 | 62,118,000 | 54,030,000 | ||||
Earnings (Loss) Before Income Taxes | -333,967,000 | -56,369,000 | -556,331,000 | -843,403,000 | ||||
Income taxes (benefit) | -139,330,000 | -32,687,000 | -253,007,000 | -355,156,000 | ||||
Net Income (Loss) | -194,637,000 | -23,682,000 | -303,324,000 | -488,247,000 | ||||
Dividends on Preferred and Preference Stock | 433,000 | 433,000 | 1,299,000 | 1,299,000 | ||||
Net Income (Loss) After Dividends on Preferred and Preference Stock of Subsidiaries | -195,070,000 | -24,115,000 | -304,623,000 | -489,546,000 | ||||
Southern Power [Member] | ' | ' | ' | ' | ||||
Operating Revenues: | ' | ' | ' | ' | ||||
Wholesale revenues, non-affiliates | 331,878,000 | 265,752,000 | 870,093,000 | 705,828,000 | ||||
Wholesale revenues, affiliates | 102,631,000 | 96,795,000 | 242,527,000 | 263,624,000 | ||||
Other revenues | 747,000 | 2,220,000 | 2,293,000 | 5,517,000 | ||||
Total operating revenues | 435,256,000 | 364,767,000 | 1,114,913,000 | 974,969,000 | ||||
Operating Expenses: | ' | ' | ' | ' | ||||
Fuel | 178,281,000 | 133,464,000 | 420,896,000 | 363,466,000 | ||||
Purchased power, non-affiliates | 28,156,000 | 19,673,000 | 72,643,000 | 56,553,000 | ||||
Purchased power, affiliates | 12,796,000 | 7,011,000 | 58,475,000 | 21,158,000 | ||||
Other operations and maintenance | 46,347,000 | 41,309,000 | 168,392,000 | 154,920,000 | ||||
Depreciation and amortization | 59,508,000 | 41,094,000 | 162,524,000 | 126,152,000 | ||||
Taxes other than income taxes | 5,458,000 | 5,719,000 | 16,842,000 | 16,526,000 | ||||
Total operating expenses | 330,546,000 | 248,270,000 | 899,772,000 | 738,775,000 | ||||
Operating Income (Loss) | 104,710,000 | 116,497,000 | 215,141,000 | 236,194,000 | ||||
Other Income and (Expense): | ' | ' | ' | ' | ||||
Interest expense, net of amounts capitalized | -22,983,000 | -12,961,000 | -66,952,000 | -53,923,000 | ||||
Other income (expense), net | 5,511,000 | -791,000 | 5,596,000 | -2,739,000 | ||||
Total other income and (expense) | -17,472,000 | -13,752,000 | -61,356,000 | -56,662,000 | ||||
Earnings (Loss) Before Income Taxes | 87,238,000 | 102,745,000 | 153,785,000 | 179,532,000 | ||||
Income taxes (benefit) | 21,960,000 | 17,592,000 | 22,177,000 | 37,265,000 | ||||
Net Income (Loss) | 65,278,000 | 85,153,000 | 131,608,000 | 142,267,000 | ||||
Less: Net income attributable to noncontrolling interest/Dividends on preferred and preference stock of subsidiaries | 1,647,000 | 0 | 3,694,000 | 0 | ||||
Net income attributable to Southern Power Company | $63,631,000 | $85,153,000 | $127,914,000 | $142,267,000 | ||||
[1] | After dividends on preferred and preference stock of subsidiaries. | |||||||
[2] | Segment net income (loss) for the traditional operating companies for the three months ended September 30, 2014 and September 30, 2013 includes a $418.0 million pre-tax charge ($258.1 million after tax) and a $150.0 million pre-tax charge ($92.6 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information. | |||||||
[3] | Segment net income (loss) for the traditional operating companies for the nine months ended September 30, 2014 and September 30, 2013 includes $798.0 million in pre-tax charges ($492.8 million after tax) and $1.14 billion in pre-tax charges ($704.0 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information. |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Pension and other post retirement benefit plans: | ' | ' | ' | ' |
Total other comprehensive income (loss) | ' | ' | $6,000,000 | $11,000,000 |
Southern Company [Member] | ' | ' | ' | ' |
Net Income (loss) | 735,000,000 | 869,000,000 | 1,731,000,000 | 1,279,000,000 |
Qualifying hedges: | ' | ' | ' | ' |
Reclassification adjustment for amounts included in net income, net of tax | 1,000,000 | 1,000,000 | 4,000,000 | 7,000,000 |
Pension and other post retirement benefit plans: | ' | ' | ' | ' |
Reclassification adjustment for amounts included in net income, net of tax | 1,000,000 | 1,000,000 | 2,000,000 | 4,000,000 |
Total other comprehensive income (loss) | 2,000,000 | 2,000,000 | 6,000,000 | 11,000,000 |
Less: Comprehensive income attributable to noncontrolling interest/Dividends on preferred and preference stock of subsidiaries | -17,000,000 | -17,000,000 | -51,000,000 | -49,000,000 |
Comprehensive Income (Loss) | 720,000,000 | 854,000,000 | 1,686,000,000 | 1,241,000,000 |
Alabama Power [Member] | ' | ' | ' | ' |
Net Income (loss) | 292,000,000 | 268,000,000 | 672,000,000 | 602,000,000 |
Qualifying hedges: | ' | ' | ' | ' |
Reclassification adjustment for amounts included in net income, net of tax | 0 | 0 | 1,000,000 | 1,000,000 |
Pension and other post retirement benefit plans: | ' | ' | ' | ' |
Total other comprehensive income (loss) | 0 | 0 | 1,000,000 | 1,000,000 |
Comprehensive Income (Loss) | 292,000,000 | 268,000,000 | 673,000,000 | 603,000,000 |
Georgia Power [Member] | ' | ' | ' | ' |
Net Income (loss) | 529,000,000 | 491,000,000 | 1,115,000,000 | 979,000,000 |
Qualifying hedges: | ' | ' | ' | ' |
Reclassification adjustment for amounts included in net income, net of tax | 0 | 1,000,000 | 1,000,000 | 2,000,000 |
Pension and other post retirement benefit plans: | ' | ' | ' | ' |
Total other comprehensive income (loss) | 0 | 1,000,000 | 1,000,000 | 2,000,000 |
Comprehensive Income (Loss) | 529,000,000 | 492,000,000 | 1,116,000,000 | 981,000,000 |
Gulf Power [Member] | ' | ' | ' | ' |
Net Income (loss) | 48,798,000 | 47,005,000 | 124,139,000 | 104,581,000 |
Qualifying hedges: | ' | ' | ' | ' |
Reclassification adjustment for amounts included in net income, net of tax | 93,000 | 93,000 | 279,000 | 379,000 |
Pension and other post retirement benefit plans: | ' | ' | ' | ' |
Total other comprehensive income (loss) | 93,000 | 93,000 | 279,000 | 379,000 |
Comprehensive Income (Loss) | 48,891,000 | 47,098,000 | 124,418,000 | 104,960,000 |
Mississippi Power [Member] | ' | ' | ' | ' |
Net Income (loss) | -194,637,000 | -23,682,000 | -303,324,000 | -488,247,000 |
Qualifying hedges: | ' | ' | ' | ' |
Reclassification adjustment for amounts included in net income, net of tax | 212,000 | 212,000 | 637,000 | 637,000 |
Pension and other post retirement benefit plans: | ' | ' | ' | ' |
Total other comprehensive income (loss) | 212,000 | 212,000 | 637,000 | 637,000 |
Comprehensive Income (Loss) | -194,425,000 | -23,470,000 | -302,687,000 | -487,610,000 |
Southern Power [Member] | ' | ' | ' | ' |
Net Income (loss) | 65,278,000 | 85,153,000 | 131,608,000 | 142,267,000 |
Qualifying hedges: | ' | ' | ' | ' |
Changes in fair value, net of tax | -1,000 | 0 | -1,000 | 0 |
Reclassification adjustment for amounts included in net income, net of tax | 84,000 | 338,000 | 281,000 | 3,619,000 |
Pension and other post retirement benefit plans: | ' | ' | ' | ' |
Total other comprehensive income (loss) | 83,000 | 338,000 | 280,000 | 3,619,000 |
Less: Comprehensive income attributable to noncontrolling interest/Dividends on preferred and preference stock of subsidiaries | -1,647,000 | 0 | -3,694,000 | 0 |
Comprehensive Income (Loss) | $63,714,000 | $85,491,000 | $128,194,000 | $145,886,000 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Southern Company [Member] | ' | ' | ' | ' |
Reclassification adjustment for amounts of qualifying hedges included in net income, tax | $1,000,000 | $1,000,000 | $2,000,000 | $5,000,000 |
Reclassification adjustment for amounts of pension and other post retirement benefit plans included in net income, tax | 1,000,000 | 1,000,000 | 2,000,000 | 3,000,000 |
Alabama Power [Member] | ' | ' | ' | ' |
Reclassification adjustment for amounts of qualifying hedges included in net income, tax | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
Georgia Power [Member] | ' | ' | ' | ' |
Reclassification adjustment for amounts of qualifying hedges included in net income, tax | 1,000,000 | 0 | 1,000,000 | 1,000,000 |
Gulf Power [Member] | ' | ' | ' | ' |
Reclassification adjustment for amounts of qualifying hedges included in net income, tax | 58,000 | 58,000 | 175,000 | 238,000 |
Mississippi Power [Member] | ' | ' | ' | ' |
Reclassification adjustment for amounts of qualifying hedges included in net income, tax | 131,000 | 131,000 | 394,000 | 394,000 |
Southern Power [Member] | ' | ' | ' | ' |
Changes in fair value, tax | -1,000 | 0 | -1,000 | 0 |
Reclassification adjustment for amounts of qualifying hedges included in net income, tax | $52,000 | $213,000 | $115,000 | $2,310,000 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Southern Company [Member] | ' | ' |
Operating Activities: | ' | ' |
Net income (loss) | $1,731,000,000 | $1,279,000,000 |
Adjustments to reconcile net income (loss) to net cash provided from operating activities -- | ' | ' |
Depreciation and amortization, total | 1,798,000,000 | 1,725,000,000 |
Deferred income taxes | 330,000,000 | 263,000,000 |
Allowance for equity funds used during construction | -182,000,000 | -139,000,000 |
Stock based compensation expense | 51,000,000 | 48,000,000 |
Estimated loss on Kemper IGCC | 798,000,000 | 1,140,000,000 |
Other, net | -74,000,000 | 76,000,000 |
Changes in certain current assets and liabilities -- | ' | ' |
-Receivables | -640,000,000 | -407,000,000 |
-Fossil fuel stock | 522,000,000 | 471,000,000 |
-Materials and supplies | -45,000,000 | 33,000,000 |
-Other current assets | -29,000,000 | -1,000,000 |
-Accounts payable | -92,000,000 | -140,000,000 |
-Accrued taxes | 403,000,000 | 268,000,000 |
-Accrued compensation | 96,000,000 | -198,000,000 |
-Other current liabilities | 20,000,000 | -7,000,000 |
Net cash provided from operating activities | 4,687,000,000 | 4,411,000,000 |
Investing Activities: | ' | ' |
Property additions | -3,903,000,000 | -3,978,000,000 |
Investment of restricted cash | -11,000,000 | -169,000,000 |
Distribution of restricted cash | 37,000,000 | 94,000,000 |
Nuclear decommissioning trust fund purchases | -635,000,000 | -744,000,000 |
Nuclear decommissioning trust fund sales | 633,000,000 | 742,000,000 |
Cost of removal, net of salvage | -106,000,000 | -90,000,000 |
Prepaid long-term service agreement | -145,000,000 | -79,000,000 |
Other investing activities | -27,000,000 | 122,000,000 |
Net cash used for investing activities | -4,157,000,000 | -4,102,000,000 |
Financing Activities: | ' | ' |
Increase (decrease) in notes payable, net | -1,117,000,000 | -70,000,000 |
Proceeds -- | ' | ' |
Long-term debt issuances | 2,715,000,000 | 2,421,000,000 |
Interest-bearing refundable deposit | 75,000,000 | 0 |
Preference stock | 0 | 50,000,000 |
Common stock issuances | 484,000,000 | 479,000,000 |
Redemptions -- | ' | ' |
Long-term debt | -437,000,000 | -1,767,000,000 |
Common stock repurchased | -5,000,000 | -19,000,000 |
Payment of common stock dividends | -1,391,000,000 | -1,314,000,000 |
Payment of dividends on preferred and preference stock of subsidiaries | -51,000,000 | -49,000,000 |
Other financing activities | -48,000,000 | 14,000,000 |
Net cash provided from (used for) financing activities | 225,000,000 | -255,000,000 |
Net Change in Cash and Cash Equivalents | 755,000,000 | 54,000,000 |
Cash and Cash Equivalents at Beginning of Period | 659,000,000 | 628,000,000 |
Cash and Cash Equivalents at End of Period | 1,414,000,000 | 682,000,000 |
Cash paid (received) during the period for -- | ' | ' |
Interest (net of capitalized amounts) | 560,000,000 | 564,000,000 |
Income taxes, net | 263,000,000 | 149,000,000 |
Noncash transactions - accrued property additions at end of period | 415,000,000 | 539,000,000 |
Noncash transactions - capital lease obligation | 0 | 83,000,000 |
Alabama Power [Member] | ' | ' |
Operating Activities: | ' | ' |
Net income (loss) | 672,000,000 | 602,000,000 |
Adjustments to reconcile net income (loss) to net cash provided from operating activities -- | ' | ' |
Depreciation and amortization, total | 631,000,000 | 616,000,000 |
Deferred income taxes | 68,000,000 | 200,000,000 |
Allowance for equity funds used during construction | -36,000,000 | -23,000,000 |
Regulatory deferrals | -62,000,000 | -14,000,000 |
Other, net | 29,000,000 | 15,000,000 |
Changes in certain current assets and liabilities -- | ' | ' |
-Receivables | -139,000,000 | -98,000,000 |
-Fossil fuel stock | 106,000,000 | 173,000,000 |
-Materials and supplies | -8,000,000 | 16,000,000 |
-Other current assets | -32,000,000 | -18,000,000 |
-Accounts payable | -64,000,000 | -109,000,000 |
-Accrued taxes | 210,000,000 | 105,000,000 |
-Accrued compensation | 18,000,000 | -36,000,000 |
-Retail fuel cost over recovery - short-term | 2,000,000 | 42,000,000 |
-Other current liabilities | 3,000,000 | -2,000,000 |
Net cash provided from operating activities | 1,398,000,000 | 1,469,000,000 |
Investing Activities: | ' | ' |
Property additions | -966,000,000 | -779,000,000 |
Nuclear decommissioning trust fund purchases | -178,000,000 | -162,000,000 |
Nuclear decommissioning trust fund sales | 178,000,000 | 162,000,000 |
Cost of removal, net of salvage | -50,000,000 | -29,000,000 |
Change in construction payables | 39,000,000 | 12,000,000 |
Other investing activities | -26,000,000 | 35,000,000 |
Net cash used for investing activities | -1,003,000,000 | -761,000,000 |
Proceeds -- | ' | ' |
Capital contributions from parent company | 20,000,000 | 18,000,000 |
Senior notes issuances | 400,000,000 | 0 |
Redemptions -- | ' | ' |
Payment of preferred and preference stock dividends | -30,000,000 | -30,000,000 |
Payment of common stock dividends | -412,000,000 | -397,000,000 |
Other financing activities | -6,000,000 | 0 |
Net cash provided from (used for) financing activities | -28,000,000 | -409,000,000 |
Net Change in Cash and Cash Equivalents | 367,000,000 | 299,000,000 |
Cash and Cash Equivalents at Beginning of Period | 295,000,000 | 137,000,000 |
Cash and Cash Equivalents at End of Period | 662,000,000 | 436,000,000 |
Cash paid (received) during the period for -- | ' | ' |
Interest (net of capitalized amounts) | 174,000,000 | 182,000,000 |
Income taxes, net | 227,000,000 | 154,000,000 |
Noncash transactions - accrued property additions at end of period | 57,000,000 | 43,000,000 |
Georgia Power [Member] | ' | ' |
Operating Activities: | ' | ' |
Net income (loss) | 1,115,000,000 | 979,000,000 |
Adjustments to reconcile net income (loss) to net cash provided from operating activities -- | ' | ' |
Depreciation and amortization, total | 757,000,000 | 734,000,000 |
Deferred income taxes | 121,000,000 | 354,000,000 |
Allowance for equity funds used during construction | -29,000,000 | -24,000,000 |
Retail fuel cost over recovery - long-term | -44,000,000 | -123,000,000 |
Deferred expenses | -35,000,000 | -34,000,000 |
Pension, postretirement, and other employee benefits | 28,000,000 | 58,000,000 |
Other, net | 23,000,000 | 28,000,000 |
Changes in certain current assets and liabilities -- | ' | ' |
-Receivables | -377,000,000 | -191,000,000 |
-Fossil fuel stock | 337,000,000 | 213,000,000 |
-Prepaid income taxes | 19,000,000 | 11,000,000 |
-Other current assets | -24,000,000 | 38,000,000 |
-Accrued taxes | 148,000,000 | 131,000,000 |
-Other current liabilities | 29,000,000 | -46,000,000 |
Net cash provided from operating activities | 2,068,000,000 | 2,128,000,000 |
Investing Activities: | ' | ' |
Property additions | -1,364,000,000 | -1,165,000,000 |
Investment of restricted cash | 0 | -89,000,000 |
Distribution of restricted cash | 0 | 89,000,000 |
Nuclear decommissioning trust fund purchases | -457,000,000 | -582,000,000 |
Nuclear decommissioning trust fund sales | 455,000,000 | 580,000,000 |
Cost of removal, net of salvage | -39,000,000 | -42,000,000 |
Change in construction payables, net of joint owner portion | 16,000,000 | -28,000,000 |
Prepaid long-term service agreement | -66,000,000 | -14,000,000 |
Other investing activities | -3,000,000 | 0 |
Net cash used for investing activities | -1,458,000,000 | -1,251,000,000 |
Financing Activities: | ' | ' |
Increase (decrease) in notes payable, net | -836,000,000 | 211,000,000 |
Proceeds -- | ' | ' |
Capital contributions from parent company | 39,000,000 | 30,000,000 |
Pollution control revenue bonds issuances | 40,000,000 | 89,000,000 |
Senior notes issuances | 0 | 850,000,000 |
FFB loan | 1,000,000,000 | 0 |
Redemptions -- | ' | ' |
Pollution control revenue bonds | -37,000,000 | -89,000,000 |
Senior notes | 0 | -1,250,000,000 |
Payment of preferred and preference stock dividends | -13,000,000 | -13,000,000 |
Payment of common stock dividends | -715,000,000 | -680,000,000 |
FFB loan issuance costs | -49,000,000 | -2,000,000 |
Other financing activities | -6,000,000 | -15,000,000 |
Net cash provided from (used for) financing activities | -577,000,000 | -869,000,000 |
Net Change in Cash and Cash Equivalents | 33,000,000 | 8,000,000 |
Cash and Cash Equivalents at Beginning of Period | 30,000,000 | 45,000,000 |
Cash and Cash Equivalents at End of Period | 63,000,000 | 53,000,000 |
Cash paid (received) during the period for -- | ' | ' |
Interest (net of capitalized amounts) | 235,000,000 | 247,000,000 |
Income taxes, net | 309,000,000 | 109,000,000 |
Noncash transactions - accrued property additions at end of period | 220,000,000 | 230,000,000 |
Gulf Power [Member] | ' | ' |
Operating Activities: | ' | ' |
Net income (loss) | 124,139,000 | 104,581,000 |
Adjustments to reconcile net income (loss) to net cash provided from operating activities -- | ' | ' |
Depreciation and amortization, total | 115,093,000 | 116,626,000 |
Deferred income taxes | 29,359,000 | 55,911,000 |
Allowance for equity funds used during construction | -8,276,000 | -4,318,000 |
Pension, postretirement, and other employee benefits | 5,693,000 | 9,279,000 |
Stock based compensation expense | 1,520,000 | 1,389,000 |
Other, net | -2,667,000 | 2,509,000 |
Changes in certain current assets and liabilities -- | ' | ' |
-Receivables | -45,777,000 | -49,690,000 |
-Prepayments | 2,894,000 | 2,568,000 |
-Fossil fuel stock | 44,300,000 | 24,475,000 |
-Materials and supplies | 1,007,000 | -2,683,000 |
-Prepaid income taxes | 8,627,000 | 23,515,000 |
-Other current assets | -1,022,000 | 0 |
-Accounts payable | 10,097,000 | -9,132,000 |
-Accrued taxes | 21,858,000 | 20,648,000 |
-Accrued compensation | 5,131,000 | -5,974,000 |
-Over recovered regulatory clause revenues | 6,834,000 | -17,092,000 |
-Other current liabilities | 4,939,000 | 5,258,000 |
Net cash provided from operating activities | 323,749,000 | 277,870,000 |
Investing Activities: | ' | ' |
Property additions | -254,256,000 | -205,161,000 |
Cost of removal, net of salvage | -9,309,000 | -12,563,000 |
Change in construction payables | 1,688,000 | 6,752,000 |
Payments pursuant to long-term service agreements | -6,097,000 | -3,843,000 |
Other investing activities | 89,000 | 306,000 |
Net cash used for investing activities | -267,885,000 | -214,509,000 |
Financing Activities: | ' | ' |
Increase (decrease) in notes payable, net | -44,395,000 | -65,077,000 |
Proceeds -- | ' | ' |
Capital contributions from parent company | 2,873,000 | 1,936,000 |
Preference stock | 0 | 50,000,000 |
Pollution control revenue bonds issuances | 42,075,000 | 63,000,000 |
Common stock issuances | 50,000,000 | 40,000,000 |
Senior notes issuances | 200,000,000 | 90,000,000 |
Redemptions -- | ' | ' |
Pollution control revenue bonds | -29,075,000 | -63,000,000 |
Senior notes | 0 | -90,000,000 |
Payment of preferred and preference stock dividends | -6,752,000 | -4,753,000 |
Payment of common stock dividends | -92,400,000 | -86,550,000 |
Other financing activities | -2,951,000 | -3,209,000 |
Net cash provided from (used for) financing activities | 119,375,000 | -67,653,000 |
Net Change in Cash and Cash Equivalents | 175,239,000 | -4,292,000 |
Cash and Cash Equivalents at Beginning of Period | 21,753,000 | 32,167,000 |
Cash and Cash Equivalents at End of Period | 196,992,000 | 27,875,000 |
Cash paid (received) during the period for -- | ' | ' |
Interest (net of capitalized amounts) | 28,574,000 | 33,433,000 |
Income taxes, net | 35,940,000 | -17,064,000 |
Noncash transactions - accrued property additions at end of period | 34,876,000 | 30,846,000 |
Mississippi Power [Member] | ' | ' |
Operating Activities: | ' | ' |
Net income (loss) | -303,324,000 | -488,247,000 |
Adjustments to reconcile net income (loss) to net cash provided from operating activities -- | ' | ' |
Depreciation and amortization, total | 77,774,000 | 68,436,000 |
Deferred income taxes | 158,552,000 | -391,143,000 |
Investment tax credits | -108,171,000 | 45,228,000 |
Allowance for equity funds used during construction | -107,685,000 | -87,740,000 |
Regulatory assets associated with Kemper IGCC | -51,875,000 | -23,545,000 |
Estimated loss on Kemper IGCC | 798,000,000 | 1,062,000,000 |
Kemper regulatory deferral | 111,828,000 | 61,997,000 |
Other, net | 12,105,000 | 23,697,000 |
Changes in certain current assets and liabilities -- | ' | ' |
-Receivables | -30,452,000 | -40,003,000 |
-Under recovered regulatory clause revenues | -17,845,000 | 0 |
-Fossil fuel stock | 35,917,000 | 59,608,000 |
-Materials and supplies | -9,080,000 | -8,029,000 |
-Prepaid income taxes | -90,401,000 | 33,793,000 |
-Other current assets | 5,173,000 | -1,710,000 |
-Accounts payable | 27,511,000 | 17,397,000 |
-Accrued taxes | -17,032,000 | -2,334,000 |
-Accrued interest | 23,939,000 | 15,153,000 |
-Accrued compensation | 7,993,000 | -8,543,000 |
-Over recovered regulatory clause revenues | -18,358,000 | -49,247,000 |
-Other current liabilities | 154,000 | 0 |
Net cash provided from operating activities | 504,723,000 | 286,768,000 |
Investing Activities: | ' | ' |
Property additions | -986,019,000 | -1,221,519,000 |
Investment of restricted cash | -10,548,000 | 0 |
Distribution of restricted cash | 9,104,000 | 0 |
Cost of removal, net of salvage | -7,431,000 | -5,769,000 |
Change in construction payables | -40,301,000 | -6,200,000 |
Capital grant proceeds | 0 | 4,500,000 |
Proceeds from asset sales | 0 | 79,020,000 |
Other investing activities | -14,804,000 | -3,659,000 |
Net cash used for investing activities | -1,049,999,000 | -1,153,627,000 |
Proceeds -- | ' | ' |
Capital contributions from parent company | 310,860,000 | 601,197,000 |
Bonds-Other | 22,866,000 | 31,092,000 |
Interest-bearing refundable deposit | 75,000,000 | 0 |
Long-term debt issuance from parent company | 220,000,000 | 0 |
Other long-term debt issuances | 250,000,000 | 475,000,000 |
Redemptions -- | ' | ' |
Bonds — Other | 0 | -82,563,000 |
Capital leases | -1,893,000 | -82,000 |
Long-term debt to parent company | -220,000,000 | 0 |
Other long-term debt | 0 | -125,000,000 |
Payment of preferred and preference stock dividends | -1,299,000 | -1,299,000 |
Payment of common stock dividends | 0 | -71,956,000 |
Return of capital | -164,790,000 | -60,614,000 |
Other financing activities | -687,000 | -1,845,000 |
Net cash provided from (used for) financing activities | 490,057,000 | 763,930,000 |
Net Change in Cash and Cash Equivalents | -55,219,000 | -102,929,000 |
Cash and Cash Equivalents at Beginning of Period | 145,165,000 | 145,008,000 |
Cash and Cash Equivalents at End of Period | 89,946,000 | 42,079,000 |
Cash paid (received) during the period for -- | ' | ' |
Interest (net of capitalized amounts) | 4,930,000 | 15,568,000 |
Income taxes, net | -210,465,000 | -48,307,000 |
Noncash transactions - accrued property additions at end of period | 123,894,000 | 208,663,000 |
Noncash transactions - capital lease obligation | 0 | 82,915,000 |
Southern Power [Member] | ' | ' |
Operating Activities: | ' | ' |
Net income (loss) | 131,608,000 | 142,267,000 |
Adjustments to reconcile net income (loss) to net cash provided from operating activities -- | ' | ' |
Depreciation and amortization, total | 158,264,000 | 131,955,000 |
Deferred income taxes | -6,340,000 | 83,331,000 |
Investment tax credits | 38,215,000 | -25,137,000 |
Deferred revenues | -2,452,000 | 3,136,000 |
Other, net | 3,853,000 | 962,000 |
Changes in certain current assets and liabilities -- | ' | ' |
-Receivables | -62,757,000 | -28,486,000 |
-Fossil fuel stock | -1,565,000 | 881,000 |
-Materials and supplies | -3,455,000 | -5,902,000 |
-Prepaid income taxes | 38,716,000 | -12,485,000 |
-Other current assets | -720,000 | -2,017,000 |
-Accounts payable | 26,989,000 | -4,282,000 |
-Accrued taxes | 62,124,000 | 12,550,000 |
-Accrued interest | -13,451,000 | -8,306,000 |
-Other current liabilities | 2,000,000 | 235,000 |
Net cash provided from operating activities | 371,029,000 | 288,702,000 |
Investing Activities: | ' | ' |
Plant acquisition | -217,547,000 | -111,600,000 |
Property additions | -14,782,000 | -463,873,000 |
Investment of restricted cash | -166,000 | -20,000,000 |
Change in construction payables | -3,282,000 | 292,000 |
Payments pursuant to long-term service agreements | -41,782,000 | -40,978,000 |
Other investing activities | -9,996,000 | -1,724,000 |
Net cash used for investing activities | -287,555,000 | -637,883,000 |
Financing Activities: | ' | ' |
Increase (decrease) in notes payable, net | 19,995,000 | 120,798,000 |
Proceeds -- | ' | ' |
Capital contributions from parent company | -3,628,000 | 1,897,000 |
Senior notes issuances | 0 | 300,000,000 |
Other long-term debt issuances | 10,199,000 | 22,722,000 |
Redemptions -- | ' | ' |
Other long-term debt | -818,000 | -220,000 |
Distributions to noncontrolling interest | -150,000 | -146,000 |
Contributions from noncontrolling interest | 7,492,000 | 16,802,000 |
Payment of common stock dividends | -98,340,000 | -96,840,000 |
Other financing activities | -184,000 | -2,287,000 |
Net cash provided from (used for) financing activities | -65,434,000 | 362,726,000 |
Net Change in Cash and Cash Equivalents | 18,040,000 | 13,545,000 |
Cash and Cash Equivalents at Beginning of Period | 68,744,000 | 28,592,000 |
Cash and Cash Equivalents at End of Period | 86,784,000 | 42,137,000 |
Cash paid (received) during the period for -- | ' | ' |
Interest (net of capitalized amounts) | 78,496,000 | 55,190,000 |
Income taxes, net | -91,193,000 | -6,518,000 |
Noncash transactions - accrued property additions at end of period | $549,000 | $36,370,000 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Southern Company [Member] | ' | ' |
Net cash paid for capitalized interest | $80,000 | $67,000 |
Alabama Power [Member] | ' | ' |
Net cash paid for capitalized interest | 13,000 | 8,000 |
Georgia Power [Member] | ' | ' |
Net cash paid for capitalized interest | 13,000 | 10,000 |
Gulf Power [Member] | ' | ' |
Net cash paid for capitalized interest | 3,699 | 2,291 |
Mississippi Power [Member] | ' | ' |
Interest paid | 55,376 | 53,450 |
Net cash paid for capitalized interest | 50,446 | 37,882 |
Southern Power [Member] | ' | ' |
Net cash paid for capitalized interest | ($113) | $7,682 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Deferred Charges and Other Assets: | ' | ' |
Total Assets | $67,654,000,000 | $64,546,000,000 |
Common Stockholders' Equity: | ' | ' |
Total Stockholders' Equity | 20,613,000,000 | 19,764,000,000 |
Southern Company [Member] | ' | ' |
Current Assets: | ' | ' |
Cash and cash equivalents | 1,414,000,000 | 659,000,000 |
Receivables -- | ' | ' |
Customer accounts receivable | 1,439,000,000 | 1,027,000,000 |
Unbilled revenues | 476,000,000 | 448,000,000 |
Under recovered regulatory clause revenues | 104,000,000 | 58,000,000 |
Other accounts and notes receivable | 259,000,000 | 304,000,000 |
Accumulated provision for uncollectible accounts | -20,000,000 | -18,000,000 |
Fossil fuel stock, at average cost | 817,000,000 | 1,339,000,000 |
Materials and supplies, at average cost | 1,018,000,000 | 959,000,000 |
Vacation pay | 170,000,000 | 171,000,000 |
Prepaid expenses | 387,000,000 | 489,000,000 |
Other regulatory assets, current | 147,000,000 | 124,000,000 |
Other current assets | 47,000,000 | 39,000,000 |
Total current assets | 6,258,000,000 | 5,599,000,000 |
Property, Plant, and Equipment: | ' | ' |
In service | 68,545,000,000 | 66,021,000,000 |
Less accumulated provision for depreciation | 23,846,000,000 | 23,059,000,000 |
Plant in service, net of depreciation | 44,699,000,000 | 42,962,000,000 |
Other utility plant, net | 218,000,000 | 240,000,000 |
Nuclear fuel, at amortized cost | 840,000,000 | 855,000,000 |
Construction work in progress | 7,410,000,000 | 7,151,000,000 |
Total property, plant, and equipment | 53,167,000,000 | 51,208,000,000 |
Other Property and Investments: | ' | ' |
Nuclear decommissioning trusts, at fair value | 1,510,000,000 | 1,465,000,000 |
Leveraged leases | 680,000,000 | 665,000,000 |
Miscellaneous property and investments | 245,000,000 | 218,000,000 |
Total other property and investments | 2,435,000,000 | 2,348,000,000 |
Deferred Charges and Other Assets: | ' | ' |
Deferred charges related to income taxes | 1,488,000,000 | 1,432,000,000 |
Prepaid pension costs | 438,000,000 | 419,000,000 |
Unamortized debt issuance expense | 206,000,000 | 139,000,000 |
Unamortized loss on reacquired debt | 274,000,000 | 293,000,000 |
Other regulatory assets, deferred | 2,624,000,000 | 2,557,000,000 |
Other deferred charges and assets | 764,000,000 | 551,000,000 |
Total deferred charges and other assets | 5,794,000,000 | 5,391,000,000 |
Total Assets | 67,654,000,000 | 64,546,000,000 |
Current Liabilities: | ' | ' |
Securities due within one year | 2,398,000,000 | 469,000,000 |
Interest-bearing refundable deposit | 225,000,000 | 150,000,000 |
Notes payable | 361,000,000 | 1,482,000,000 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ' |
Accounts payable | 1,381,000,000 | 1,376,000,000 |
Customer deposits | 386,000,000 | 380,000,000 |
Accrued taxes -- | ' | ' |
Accrued income taxes | 238,000,000 | 13,000,000 |
Other accrued taxes | 558,000,000 | 456,000,000 |
Accrued interest | 270,000,000 | 251,000,000 |
Accrued vacation pay | 213,000,000 | 217,000,000 |
Accrued compensation | 423,000,000 | 303,000,000 |
Other regulatory liabilities, current | 84,000,000 | 92,000,000 |
Other current liabilities | 353,000,000 | 347,000,000 |
Total current liabilities | 6,890,000,000 | 5,536,000,000 |
Long-term Debt | 21,699,000,000 | 21,344,000,000 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated deferred income taxes | 10,817,000,000 | 10,563,000,000 |
Deferred credits related to income taxes | 191,000,000 | 202,000,000 |
Accumulated deferred investment tax credits | 1,006,000,000 | 966,000,000 |
Employee benefit obligations | 1,474,000,000 | 1,461,000,000 |
Asset retirement obligations | 2,133,000,000 | 2,006,000,000 |
Other cost of removal obligations | 1,341,000,000 | 1,270,000,000 |
Other regulatory liabilities, deferred | 566,000,000 | 475,000,000 |
Other deferred credits and liabilities | 549,000,000 | 584,000,000 |
Total deferred credits and other liabilities | 18,077,000,000 | 17,527,000,000 |
Total Liabilities | 46,666,000,000 | 44,407,000,000 |
Redeemable Preferred Stock of Subsidiaries | 375,000,000 | 375,000,000 |
Common Stockholders' Equity: | ' | ' |
Common stock | 4,500,000,000 | 4,461,000,000 |
Paid-in capital | 5,652,000,000 | 5,362,000,000 |
Treasury, at cost | -25,000,000 | -250,000,000 |
Retained earnings (accumulated deficit) | 9,800,000,000 | 9,510,000,000 |
Accumulated other comprehensive income (loss) | -70,000,000 | -75,000,000 |
Total common stockholders' equity | 19,857,000,000 | 19,008,000,000 |
Preferred and Preference Stock of Subsidiaries | 756,000,000 | 756,000,000 |
Total Stockholders' Equity | 20,613,000,000 | 19,764,000,000 |
Total Liabilities and Stockholders' Equity | 67,654,000,000 | 64,546,000,000 |
Alabama Power [Member] | ' | ' |
Current Assets: | ' | ' |
Cash and cash equivalents | 662,000,000 | 295,000,000 |
Receivables -- | ' | ' |
Customer accounts receivable | 442,000,000 | 341,000,000 |
Unbilled revenues | 133,000,000 | 142,000,000 |
Under recovered regulatory clause revenues | 34,000,000 | 0 |
Other accounts and notes receivable | 38,000,000 | 30,000,000 |
Affiliated companies | 36,000,000 | 54,000,000 |
Accumulated provision for uncollectible accounts | -9,000,000 | -8,000,000 |
Fossil fuel stock, at average cost | 223,000,000 | 329,000,000 |
Materials and supplies, at average cost | 397,000,000 | 375,000,000 |
Vacation pay | 63,000,000 | 63,000,000 |
Prepaid expenses | 83,000,000 | 57,000,000 |
Other regulatory assets, current | 8,000,000 | 7,000,000 |
Other current assets | 9,000,000 | 6,000,000 |
Total current assets | 2,119,000,000 | 1,691,000,000 |
Property, Plant, and Equipment: | ' | ' |
In service | 22,688,000,000 | 22,092,000,000 |
Less accumulated provision for depreciation | 8,430,000,000 | 8,114,000,000 |
Plant in service, net of depreciation | 14,258,000,000 | 13,978,000,000 |
Nuclear fuel, at amortized cost | 324,000,000 | 332,000,000 |
Construction work in progress | 995,000,000 | 748,000,000 |
Total property, plant, and equipment | 15,577,000,000 | 15,058,000,000 |
Other Property and Investments: | ' | ' |
Equity investments in unconsolidated subsidiaries | 67,000,000 | 54,000,000 |
Nuclear decommissioning trusts, at fair value | 738,000,000 | 714,000,000 |
Miscellaneous property and investments | 83,000,000 | 80,000,000 |
Total other property and investments | 888,000,000 | 848,000,000 |
Deferred Charges and Other Assets: | ' | ' |
Deferred charges related to income taxes | 528,000,000 | 519,000,000 |
Prepaid pension costs | 290,000,000 | 276,000,000 |
Deferred under recovered regulatory clause revenues | 46,000,000 | 25,000,000 |
Other regulatory assets, deferred | 703,000,000 | 692,000,000 |
Other deferred charges and assets | 142,000,000 | 142,000,000 |
Total deferred charges and other assets | 1,709,000,000 | 1,654,000,000 |
Total Assets | 20,293,000,000 | 19,251,000,000 |
Current Liabilities: | ' | ' |
Securities due within one year | 54,000,000 | 0 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ' |
Affiliated accounts payable | 245,000,000 | 198,000,000 |
Other accounts payable | 273,000,000 | 339,000,000 |
Customer deposits | 86,000,000 | 85,000,000 |
Accrued taxes -- | ' | ' |
Accrued income taxes | 146,000,000 | 11,000,000 |
Other accrued taxes | 114,000,000 | 33,000,000 |
Accrued interest | 62,000,000 | 61,000,000 |
Accrued vacation pay | 53,000,000 | 53,000,000 |
Accrued compensation | 98,000,000 | 74,000,000 |
Other regulatory liabilities, current | 49,000,000 | 37,000,000 |
Other current liabilities | 44,000,000 | 41,000,000 |
Total current liabilities | 1,224,000,000 | 932,000,000 |
Long-term Debt | 6,577,000,000 | 6,233,000,000 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated deferred income taxes | 3,670,000,000 | 3,603,000,000 |
Deferred credits related to income taxes | 72,000,000 | 75,000,000 |
Accumulated deferred investment tax credits | 127,000,000 | 133,000,000 |
Employee benefit obligations | 203,000,000 | 195,000,000 |
Asset retirement obligations | 813,000,000 | 730,000,000 |
Other cost of removal obligations | 864,000,000 | 828,000,000 |
Other regulatory liabilities, deferred | 242,000,000 | 259,000,000 |
Deferred over recovered regulatory clause revenues | 0 | 15,000,000 |
Other deferred credits and liabilities | 54,000,000 | 61,000,000 |
Total deferred credits and other liabilities | 6,045,000,000 | 5,899,000,000 |
Total Liabilities | 13,846,000,000 | 13,064,000,000 |
Redeemable Preferred Stock | 342,000,000 | 342,000,000 |
Preference Stock | 343,000,000 | 343,000,000 |
Common Stockholders' Equity: | ' | ' |
Common stock | 1,222,000,000 | 1,222,000,000 |
Paid-in capital | 2,292,000,000 | 2,262,000,000 |
Retained earnings (accumulated deficit) | 2,273,000,000 | 2,044,000,000 |
Accumulated other comprehensive income (loss) | -25,000,000 | -26,000,000 |
Total common stockholders' equity | 5,762,000,000 | 5,502,000,000 |
Total Liabilities and Stockholders' Equity | 20,293,000,000 | 19,251,000,000 |
Georgia Power [Member] | ' | ' |
Current Assets: | ' | ' |
Cash and cash equivalents | 63,000,000 | 30,000,000 |
Receivables -- | ' | ' |
Customer accounts receivable | 738,000,000 | 512,000,000 |
Unbilled revenues | 241,000,000 | 209,000,000 |
Joint owner accounts receivable | 75,000,000 | 67,000,000 |
Other accounts and notes receivable | 54,000,000 | 117,000,000 |
Affiliated companies | 21,000,000 | 21,000,000 |
Accumulated provision for uncollectible accounts | -8,000,000 | -5,000,000 |
Fossil fuel stock, at average cost | 405,000,000 | 742,000,000 |
Materials and supplies, at average cost | 431,000,000 | 409,000,000 |
Vacation pay | 88,000,000 | 88,000,000 |
Prepaid income taxes | 57,000,000 | 97,000,000 |
Other regulatory assets, current | 62,000,000 | 66,000,000 |
Other current assets | 118,000,000 | 54,000,000 |
Total current assets | 2,345,000,000 | 2,407,000,000 |
Property, Plant, and Equipment: | ' | ' |
In service | 30,818,000,000 | 30,132,000,000 |
Less accumulated provision for depreciation | 11,192,000,000 | 10,970,000,000 |
Plant in service, net of depreciation | 19,626,000,000 | 19,162,000,000 |
Other utility plant, net | 218,000,000 | 240,000,000 |
Nuclear fuel, at amortized cost | 516,000,000 | 523,000,000 |
Construction work in progress | 3,884,000,000 | 3,500,000,000 |
Total property, plant, and equipment | 24,244,000,000 | 23,425,000,000 |
Other Property and Investments: | ' | ' |
Equity investments in unconsolidated subsidiaries | 58,000,000 | 46,000,000 |
Nuclear decommissioning trusts, at fair value | 772,000,000 | 751,000,000 |
Miscellaneous property and investments | 37,000,000 | 44,000,000 |
Total other property and investments | 867,000,000 | 841,000,000 |
Deferred Charges and Other Assets: | ' | ' |
Deferred charges related to income taxes | 701,000,000 | 718,000,000 |
Prepaid pension costs | 133,000,000 | 118,000,000 |
Deferred under recovered regulatory clause revenues | 175,000,000 | 0 |
Other regulatory assets, deferred | 1,156,000,000 | 1,152,000,000 |
Other deferred charges and assets | 294,000,000 | 246,000,000 |
Total deferred charges and other assets | 2,459,000,000 | 2,234,000,000 |
Total Assets | 29,915,000,000 | 28,907,000,000 |
Current Liabilities: | ' | ' |
Securities due within one year | 503,000,000 | 5,000,000 |
Notes payable | 211,000,000 | 1,047,000,000 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ' |
Affiliated accounts payable | 503,000,000 | 417,000,000 |
Other accounts payable | 476,000,000 | 472,000,000 |
Customer deposits | 250,000,000 | 246,000,000 |
Accrued taxes -- | ' | ' |
Accrued income taxes | 155,000,000 | 0 |
Other accrued taxes | 313,000,000 | 321,000,000 |
Accrued interest | 99,000,000 | 91,000,000 |
Accrued vacation pay | 60,000,000 | 61,000,000 |
Accrued compensation | 111,000,000 | 80,000,000 |
Other current liabilities | 177,000,000 | 166,000,000 |
Total current liabilities | 2,858,000,000 | 2,906,000,000 |
Long-term Debt | 9,135,000,000 | 8,633,000,000 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated deferred income taxes | 5,295,000,000 | 5,200,000,000 |
Deferred credits related to income taxes | 107,000,000 | 112,000,000 |
Accumulated deferred investment tax credits | 196,000,000 | 203,000,000 |
Employee benefit obligations | 580,000,000 | 542,000,000 |
Asset retirement obligations | 1,215,000,000 | 1,210,000,000 |
Other cost of removal obligations | 58,000,000 | 43,000,000 |
Other deferred credits and liabilities | 178,000,000 | 201,000,000 |
Total deferred credits and other liabilities | 7,629,000,000 | 7,511,000,000 |
Total Liabilities | 19,622,000,000 | 19,050,000,000 |
Redeemable Preferred Stock | 45,000,000 | 45,000,000 |
Preference Stock | 221,000,000 | 221,000,000 |
Common Stockholders' Equity: | ' | ' |
Common stock | 398,000,000 | 398,000,000 |
Paid-in capital | 5,683,000,000 | 5,633,000,000 |
Retained earnings (accumulated deficit) | 3,950,000,000 | 3,565,000,000 |
Accumulated other comprehensive income (loss) | -4,000,000 | -5,000,000 |
Total common stockholders' equity | 10,027,000,000 | 9,591,000,000 |
Total Liabilities and Stockholders' Equity | 29,915,000,000 | 28,907,000,000 |
Gulf Power [Member] | ' | ' |
Current Assets: | ' | ' |
Cash and cash equivalents | 196,992,000 | 21,753,000 |
Receivables -- | ' | ' |
Customer accounts receivable | 98,357,000 | 64,884,000 |
Unbilled revenues | 63,950,000 | 57,282,000 |
Under recovered regulatory clause revenues | 52,531,000 | 48,282,000 |
Other accounts and notes receivable | 10,131,000 | 8,620,000 |
Affiliated companies | 7,405,000 | 8,259,000 |
Accumulated provision for uncollectible accounts | -1,695,000 | -1,131,000 |
Fossil fuel stock, at average cost | 90,750,000 | 135,050,000 |
Materials and supplies, at average cost | 53,928,000 | 54,935,000 |
Prepaid expenses | 8,374,000 | 33,186,000 |
Other regulatory assets, current | 42,683,000 | 18,536,000 |
Other current assets | 3,805,000 | 6,120,000 |
Total current assets | 627,211,000 | 455,776,000 |
Property, Plant, and Equipment: | ' | ' |
In service | 4,444,015,000 | 4,363,664,000 |
Less accumulated provision for depreciation | 1,277,290,000 | 1,211,336,000 |
Plant in service, net of depreciation | 3,166,725,000 | 3,152,328,000 |
Construction work in progress | 433,299,000 | 280,626,000 |
Total property, plant, and equipment | 3,600,024,000 | 3,432,954,000 |
Other Property and Investments: | ' | ' |
Total other property and investments | 15,212,000 | 15,314,000 |
Deferred Charges and Other Assets: | ' | ' |
Deferred charges related to income taxes | 54,856,000 | 50,597,000 |
Prepaid pension costs | 11,639,000 | 11,533,000 |
Other regulatory assets, deferred | 322,370,000 | 340,415,000 |
Other deferred charges and assets | 38,394,000 | 30,982,000 |
Total deferred charges and other assets | 427,259,000 | 433,527,000 |
Total Assets | 4,669,706,000 | 4,337,571,000 |
Current Liabilities: | ' | ' |
Securities due within one year | 75,000,000 | 75,000,000 |
Notes payable | 91,483,000 | 135,878,000 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ' |
Affiliated accounts payable | 82,258,000 | 76,897,000 |
Other accounts payable | 55,713,000 | 47,038,000 |
Customer deposits | 35,188,000 | 34,433,000 |
Accrued taxes -- | ' | ' |
Accrued income taxes | 16,124,000 | 45,000 |
Other accrued taxes | 29,777,000 | 7,486,000 |
Accrued interest | 17,808,000 | 10,272,000 |
Accrued compensation | 16,839,000 | 11,657,000 |
Other regulatory liabilities, current | 9,136,000 | 13,408,000 |
Liabilities from risk management activities | 7,337,000 | 6,470,000 |
Other current liabilities | 41,716,000 | 22,972,000 |
Total current liabilities | 478,379,000 | 441,556,000 |
Long-term Debt | 1,369,447,000 | 1,158,163,000 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated deferred income taxes | 746,866,000 | 734,355,000 |
Accumulated deferred investment tax credits | 3,101,000 | 4,055,000 |
Employee benefit obligations | 78,004,000 | 76,338,000 |
Other cost of removal obligations | 233,926,000 | 228,148,000 |
Other regulatory liabilities, deferred | 50,859,000 | 56,051,000 |
Deferred capacity expense | 168,574,000 | 180,149,000 |
Other deferred credits and liabilities | 78,671,000 | 77,126,000 |
Total deferred credits and other liabilities | 1,360,001,000 | 1,356,222,000 |
Total Liabilities | 3,207,827,000 | 2,955,941,000 |
Preference Stock | 146,504,000 | 146,504,000 |
Common Stockholders' Equity: | ' | ' |
Common stock | 483,060,000 | 433,060,000 |
Paid-in capital | 557,664,000 | 552,681,000 |
Retained earnings (accumulated deficit) | 275,481,000 | 250,494,000 |
Accumulated other comprehensive income (loss) | -830,000 | -1,109,000 |
Total common stockholders' equity | 1,315,375,000 | 1,235,126,000 |
Total Liabilities and Stockholders' Equity | 4,669,706,000 | 4,337,571,000 |
Mississippi Power [Member] | ' | ' |
Current Assets: | ' | ' |
Cash and cash equivalents | 89,946,000 | 145,165,000 |
Receivables -- | ' | ' |
Customer accounts receivable | 53,593,000 | 40,978,000 |
Unbilled revenues | 38,575,000 | 38,895,000 |
Under recovered regulatory clause revenues | 17,845,000 | 0 |
Other accounts and notes receivable | 3,995,000 | 4,600,000 |
Affiliated companies | 53,682,000 | 34,920,000 |
Accumulated provision for uncollectible accounts | -1,980,000 | -3,018,000 |
Fossil fuel stock, at average cost | 77,368,000 | 113,285,000 |
Materials and supplies, at average cost | 55,166,000 | 45,347,000 |
Prepaid income taxes | 162,790,000 | 34,751,000 |
Other regulatory assets, current | 53,854,000 | 52,496,000 |
Other current assets | 4,676,000 | 9,357,000 |
Total current assets | 609,510,000 | 516,776,000 |
Property, Plant, and Equipment: | ' | ' |
In service | 4,323,501,000 | 3,458,770,000 |
Less accumulated provision for depreciation | 1,149,432,000 | 1,095,352,000 |
Plant in service, net of depreciation | 3,174,069,000 | 2,363,418,000 |
Construction work in progress | 1,987,789,000 | 2,586,031,000 |
Total property, plant, and equipment | 5,161,858,000 | 4,949,449,000 |
Other Property and Investments: | ' | ' |
Total other property and investments | 6,863,000 | 4,857,000 |
Deferred Charges and Other Assets: | ' | ' |
Deferred charges related to income taxes | 197,278,000 | 139,834,000 |
Other regulatory assets, deferred | 255,430,000 | 200,620,000 |
Accumulated deferred income taxes | 25,255,000 | 0 |
Other deferred charges and assets | 54,929,000 | 36,673,000 |
Total deferred charges and other assets | 532,892,000 | 377,127,000 |
Total Assets | 6,311,123,000 | 5,848,209,000 |
Current Liabilities: | ' | ' |
Securities due within one year | 811,751,000 | 13,789,000 |
Interest-bearing refundable deposit | 225,000,000 | 150,000,000 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ' |
Affiliated accounts payable | 90,488,000 | 70,299,000 |
Other accounts payable | 177,212,000 | 210,191,000 |
Customer deposits | 14,946,000 | 14,379,000 |
Accrued taxes -- | ' | ' |
Accrued income taxes | 92,018,000 | 5,590,000 |
Other accrued taxes | 65,375,000 | 77,958,000 |
Accrued interest | 70,956,000 | 47,144,000 |
Accrued compensation | 17,317,000 | 9,324,000 |
Other regulatory liabilities, current | 10,138,000 | 24,981,000 |
Over recovered regulatory clause liabilities | 0 | 18,358,000 |
Other current liabilities | 21,634,000 | 21,413,000 |
Total current liabilities | 1,596,835,000 | 663,426,000 |
Long-term Debt | 1,633,394,000 | 2,167,067,000 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated deferred income taxes | 159,061,000 | 72,808,000 |
Deferred credits related to income taxes | 6,639,000 | 9,145,000 |
Accumulated deferred investment tax credits | 283,382,000 | 284,248,000 |
Employee benefit obligations | 94,539,000 | 94,430,000 |
Asset retirement obligations | 42,624,000 | 41,197,000 |
Other cost of removal obligations | 162,274,000 | 151,340,000 |
Other regulatory liabilities, deferred | 263,531,000 | 140,880,000 |
Other deferred credits and liabilities | 15,037,000 | 14,337,000 |
Total deferred credits and other liabilities | 1,027,087,000 | 808,385,000 |
Total Liabilities | 4,257,316,000 | 3,638,878,000 |
Redeemable Preferred Stock | 32,780,000 | 32,780,000 |
Common Stockholders' Equity: | ' | ' |
Common stock | 37,691,000 | 37,691,000 |
Paid-in capital | 2,525,056,000 | 2,376,595,000 |
Retained earnings (accumulated deficit) | -534,493,000 | -229,871,000 |
Accumulated other comprehensive income (loss) | -7,227,000 | -7,864,000 |
Total common stockholders' equity | 2,021,027,000 | 2,176,551,000 |
Total Liabilities and Stockholders' Equity | 6,311,123,000 | 5,848,209,000 |
Southern Power [Member] | ' | ' |
Current Assets: | ' | ' |
Cash and cash equivalents | 86,784,000 | 68,744,000 |
Receivables -- | ' | ' |
Customer accounts receivable | 103,740,000 | 73,497,000 |
Other accounts and notes receivable | 9,107,000 | 3,983,000 |
Affiliated companies | 46,089,000 | 38,391,000 |
Fossil fuel stock, at average cost | 20,743,000 | 19,178,000 |
Materials and supplies, at average cost | 58,234,000 | 54,780,000 |
Prepaid service agreements - current | 30,996,000 | 81,206,000 |
Prepaid income taxes | 47,374,000 | 54,732,000 |
Prepaid expenses | 8,518,000 | 7,915,000 |
Assets from risk management activities | 810,000 | 182,000 |
Total current assets | 412,395,000 | 402,608,000 |
Property, Plant, and Equipment: | ' | ' |
In service | 4,941,745,000 | 4,696,134,000 |
Less accumulated provision for depreciation | 981,568,000 | 871,963,000 |
Plant in service, net of depreciation | 3,960,177,000 | 3,824,171,000 |
Construction work in progress | 11,329,000 | 9,843,000 |
Total property, plant, and equipment | 3,971,506,000 | 3,834,014,000 |
Other Property and Investments: | ' | ' |
Goodwill | 1,839,000 | 1,839,000 |
Other intangible assets, net of amortization of $7,583 and $5,614 at September 30, 2014 and December 31, 2013, respectively | 47,787,000 | 43,505,000 |
Total other property and investments | 49,626,000 | 45,344,000 |
Deferred Charges and Other Assets: | ' | ' |
Prepaid long-term service agreements | 83,403,000 | 73,676,000 |
Other deferred charges and assets -- affiliated | 2,556,000 | 4,605,000 |
Other deferred charges and assets | 89,097,000 | 68,853,000 |
Total deferred charges and other assets | 175,056,000 | 147,134,000 |
Total Assets | 4,608,583,000 | 4,429,100,000 |
Current Liabilities: | ' | ' |
Securities due within one year | 531,184,000 | 599,000 |
Notes payable | 19,995,000 | 0 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ' |
Affiliated accounts payable | 89,853,000 | 56,661,000 |
Other accounts payable | 11,842,000 | 20,747,000 |
Accrued taxes -- | ' | ' |
Accrued income taxes | 8,939,000 | 161,000 |
Other accrued taxes | 13,115,000 | 2,662,000 |
Accrued interest | 14,901,000 | 28,352,000 |
Other current liabilities | 6,549,000 | 18,492,000 |
Total current liabilities | 696,378,000 | 127,674,000 |
Long-term Debt | 1,098,078,000 | 1,619,241,000 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated deferred income taxes | 749,528,000 | 724,390,000 |
Deferred convertible investment tax credits | 396,020,000 | 340,269,000 |
Deferred capacity revenues -- affiliated | 26,989,000 | 15,279,000 |
Other deferred credits and liabilities — affiliated | 858,000 | 1,621,000 |
Other deferred credits and liabilities | 10,740,000 | 7,896,000 |
Total deferred credits and other liabilities | 1,184,135,000 | 1,089,455,000 |
Total Liabilities | 2,978,591,000 | 2,836,370,000 |
Redeemable Noncontrolling Interest | 39,813,000 | 28,778,000 |
Common Stockholders' Equity: | ' | ' |
Common stock | 0 | 0 |
Paid-in capital | 1,025,407,000 | 1,029,035,000 |
Retained earnings (accumulated deficit) | 561,573,000 | 531,998,000 |
Accumulated other comprehensive income (loss) | 3,199,000 | 2,919,000 |
Total common stockholders' equity | 1,590,179,000 | 1,563,952,000 |
Total Liabilities and Stockholders' Equity | $4,608,583,000 | $4,429,100,000 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Southern Company [Member] | ' | ' |
Common stock, par value (in dollars per share) | $5 | $5 |
Common stock, shares authorized | 1,500,000,000 | 1,500,000,000 |
Common stock, shares issued | 901,000,000 | 893,000,000 |
Treasury shares at cost | 700,000 | 5,700,000 |
Alabama Power [Member] | ' | ' |
Common stock, par value (in dollars per share) | $40 | $40 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares outstanding | 30,537,500 | 30,537,500 |
Georgia Power [Member] | ' | ' |
Common stock, no par value (in dollars per share) | $0 | $0 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares outstanding | 9,261,500 | 9,261,500 |
Gulf Power [Member] | ' | ' |
Common stock, no par value (in dollars per share) | $0 | $0 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares outstanding | 5,442,717 | 4,942,717 |
Mississippi Power [Member] | ' | ' |
Common stock, no par value (in dollars per share) | $0 | $0 |
Common stock, shares authorized | 1,130,000 | 1,130,000 |
Common stock, shares outstanding | 1,121,000 | 1,121,000 |
Southern Power [Member] | ' | ' |
Other intangible assets, accumulated amortization | $7,583 | $5,614 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Introduction
Introduction | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||
INTRODUCTION | ' | |||||||
INTRODUCTION | ||||||||
The condensed quarterly financial statements of each registrant included herein have been prepared by such registrant, without audit, pursuant to the rules and regulations of the SEC. The Condensed Balance Sheets as of December 31, 2013 have been derived from the audited financial statements of each registrant. In the opinion of each registrant's management, the information regarding such registrant furnished herein reflects all adjustments, which, except as otherwise disclosed, are of a normal recurring nature, necessary to present fairly the results of operations for the periods ended September 30, 2014 and 2013. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations, although each registrant believes that the disclosures regarding such registrant are adequate to make the information presented not misleading. Disclosures which would substantially duplicate the disclosures in the Form 10-K and details which have not changed significantly in amount or composition since the filing of the Form 10-K are generally omitted from this Quarterly Report on Form 10-Q unless specifically required by GAAP. Therefore, these Condensed Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the Form 10-K. Due to the seasonal variations in the demand for energy, operating results for the periods presented are not necessarily indicative of the operating results to be expected for the full year. | ||||||||
Certain prior year data presented in the financial statements have been reclassified to conform to the current year presentation. These reclassifications had no impact on the results of operations, financial position, or cash flows of any registrant. | ||||||||
Asset Retirement Obligations | ||||||||
See Note 1 to the financial statements of Southern Company and Alabama Power under "Asset Retirement Obligations and Other Costs of Removal" in Item 8 of the Form 10-K for additional information. | ||||||||
Asset retirement obligations (ARO) are computed as the present value of the ultimate costs for an asset's future retirement and are recorded in the period in which the liability is incurred. In September 2014, Alabama Power performed a new ARO liability cost study related to Alabama Power's assets, which increased the estimated ARO liability by approximately $52 million. | ||||||||
As of September 30, 2014 and 2013, details of the ARO related to Alabama Power's assets included in Southern Company's and Alabama Power's Condensed Balance Sheets herein are as follows: | ||||||||
2014 | 2013 | |||||||
(in millions) | ||||||||
Balance at beginning of year | $ | 730 | $ | 589 | ||||
Liabilities incurred | — | — | ||||||
Liabilities settled | (2 | ) | — | |||||
Accretion | 33 | 29 | ||||||
Cash flow revisions | 52 | 102 | ||||||
Balance at end of period | $ | 813 | $ | 720 | ||||
The increase in cash flow revisions as of September 30, 2014 primarily relates to an increase in Alabama Power's AROs associated with asbestos at its steam generation facilities. | ||||||||
NOTES TO THE CONDENSED FINANCIAL STATEMENTS: (Continued) | ||||||||
(UNAUDITED) | ||||||||
Depreciation | ||||||||
Beginning in 2014, Southern Power changed the method of depreciation for its property, plant, and equipment from composite depreciation to component depreciation. As a result, certain generation assets are depreciated on a units-of-production basis to better match outage and maintenance costs to the usage of, and revenues from, these assets. The expense will fluctuate quarterly based on unit run time, but this change in methodology is not expected to have a material impact on an annual basis on the financial statements of Southern Company or Southern Power. The book value of plant-in-service as of September 30, 2014 that is depreciated on a units of production basis was approximately $470 million. | ||||||||
Recently Issued Accounting Standards | ||||||||
On May 28, 2014, the Financial Accounting Standards Board issued ASC 606, Revenue from Contracts with Customers. ASC 606 revises the accounting for revenue recognition and is effective for fiscal years beginning after December 15, 2016. The registrants are currently evaluating the requirements of ASC 606. The ultimate impact of the new standard has not yet been determined. |
Contingencies_and_Regulatory_M
Contingencies and Regulatory Matters | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||
CONTINGENCIES AND REGULATORY MATTERS | ' | |||||||||||
CONTINGENCIES AND REGULATORY MATTERS | ||||||||||||
See Note 3 to the financial statements of the registrants in Item 8 of the Form 10-K for information relating to various lawsuits, other contingencies, and regulatory matters. | ||||||||||||
General Litigation Matters | ||||||||||||
Each registrant is subject to certain claims and legal actions arising in the ordinary course of business. In addition, business activities of Southern Company's subsidiaries are subject to extensive governmental regulation related to public health and the environment, such as regulation of air emissions and water discharges. Litigation over environmental issues and claims of various types, including property damage, personal injury, common law nuisance, and citizen enforcement of environmental requirements, such as air quality and water standards, has increased generally throughout the U.S. In particular, personal injury, property damage, and other claims for damages alleged to have been caused by CO2 and other emissions, coal combustion residuals, and alleged exposure to hazardous materials, and/or requests for injunctive relief in connection with such matters, have become more frequent. | ||||||||||||
The ultimate outcome of such pending or potential litigation against each registrant and any subsidiaries cannot be predicted at this time; however, for current proceedings not specifically reported herein or in Note 3 to the financial statements of each registrant in Item 8 of the Form 10-K, management does not anticipate that the ultimate liabilities, if any, arising from such current proceedings would have a material effect on such registrant's financial statements. | ||||||||||||
Environmental Matters | ||||||||||||
New Source Review Actions | ||||||||||||
As part of a nationwide enforcement initiative against the electric utility industry which began in 1999, the EPA brought civil enforcement actions in federal district court against Alabama Power and Georgia Power alleging violations of the New Source Review (NSR) provisions of the Clean Air Act at certain coal-fired electric generating units, including units co-owned by Gulf Power and Mississippi Power. These civil actions seek penalties and injunctive relief, including orders requiring installation of the best available control technologies at the affected units. The case against Georgia Power (including claims related to a unit co-owned by Gulf Power) has been administratively closed in the U.S. District Court for the Northern District of Georgia since 2001. The case against Alabama Power (including claims involving a unit co-owned by Mississippi Power) has been actively litigated in the U.S. District Court for the Northern District of Alabama, resulting in a settlement in 2006 of the alleged NSR violations at Plant Miller; voluntary dismissal of certain claims by the EPA; and a grant of summary judgment for Alabama Power on all remaining claims and dismissal of the case with prejudice in 2011. In September 2013, the U.S. Court of Appeals for the Eleventh Circuit affirmed in part and reversed in part the 2011 judgment in favor of Alabama Power, and the case has been transferred back to the U.S. District Court for the Northern District of Alabama for further proceedings. | ||||||||||||
Southern Company and each traditional operating company believe each such traditional operating company complied with applicable laws and regulations in effect at the time the work in question took place. The Clean Air Act authorizes maximum civil penalties of $25,000 to $37,500 per day, per violation, depending on the date of the alleged violation. An adverse outcome could require substantial capital expenditures that cannot be determined at this time and could possibly require payment of substantial penalties. Such expenditures could affect future results of operations, cash flows, and financial condition if such costs are not recovered through regulated rates. The ultimate outcome of these matters cannot be determined at this time. | ||||||||||||
Environmental Remediation | ||||||||||||
The Southern Company system must comply with environmental laws and regulations that cover the handling and disposal of waste and releases of hazardous substances. Under these various laws and regulations, the Southern Company system could incur substantial costs to clean up properties. The traditional operating companies have each received authority from their respective state PSCs to recover approved environmental compliance costs through regulatory mechanisms. These rates are adjusted annually or as necessary within limits approved by the state PSCs. | ||||||||||||
Georgia Power's environmental remediation liability as of September 30, 2014 was $19 million. Georgia Power has been designated or identified as a potentially responsible party (PRP) at sites governed by the Georgia Hazardous Site Response Act and/or by the federal Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), including a site in Brunswick, Georgia on the CERCLA National Priorities List. The parties have completed the removal of wastes from the Brunswick site as ordered by the EPA. Additional cleanup and claims for recovery of natural resource damages at this site or for the assessment and potential cleanup of other sites are anticipated. | ||||||||||||
Georgia Power and numerous other entities have been designated by the EPA as PRPs at the Ward Transformer Superfund site located in Raleigh, North Carolina. In 2011, the EPA issued a Unilateral Administrative Order (UAO) to Georgia Power and 22 other parties, ordering specific remedial action of certain areas at the site. Later in 2011, Georgia Power filed a response with the EPA stating it has sufficient cause to believe it is not a liable party under CERCLA. The EPA notified Georgia Power in 2011 that it is considering enforcement options against Georgia Power and other non-complying UAO recipients. If the EPA pursues enforcement actions and the court determines that a respondent failed to comply with the UAO without sufficient cause, the EPA may also seek civil penalties of up to $37,500 per day for the violation and punitive damages of up to three times the costs incurred by the EPA as a result of the party's failure to comply with the UAO. | ||||||||||||
In addition to the EPA's action at this site, Georgia Power, along with many other parties, was sued in a private action by several existing PRPs for cost recovery related to the removal action. In February 2013, the U.S. District Court for the Eastern District of North Carolina Western Division granted Georgia Power's summary judgment motion ruling that Georgia Power has no liability in the private action. In May 2013, the plaintiffs appealed the U.S. District Court for the Eastern District of North Carolina Western Division's order to the U.S. Court of Appeals for the Fourth Circuit. | ||||||||||||
The ultimate outcome of these matters will depend upon the success of defenses asserted, the ultimate number of PRPs participating in the cleanup, and numerous other factors and cannot be determined at this time; however, as a result of Georgia Power's regulatory treatment for environmental remediation expenses, these matters are not expected to have a material impact on Southern Company's or Georgia Power's financial statements. See Note 1 to the financial statements of Georgia Power under "Environmental Remediation Recovery" in Item 8 of the Form 10-K for additional information regarding the regulatory treatment. | ||||||||||||
Gulf Power's environmental remediation liability includes estimated costs of environmental remediation projects of approximately $49.5 million as of September 30, 2014. These estimated costs primarily relate to site closure criteria by the Florida Department of Environmental Protection (FDEP) for potential impacts to soil and groundwater from herbicide applications at Gulf Power substations. The schedule for completion of the remediation projects is subject to FDEP approval. The projects have been approved by the Florida PSC for recovery through Gulf Power's environmental cost recovery clause; therefore, there was no impact on net income as a result of these liabilities. | ||||||||||||
In 2003, Mississippi Power and numerous other entities were designated by the Texas Commission on Environmental Quality (TCEQ) as PRPs at a site that was owned by an electric transformer company that handled Mississippi Power's transformers. The TCEQ approved the final site remediation plan in December 2013 and, on March 28, 2014, the impacted utilities, including Mississippi Power, agreed to commence remediation actions on the site. Mississippi Power's environmental remediation liability is $0.6 million as of September 30, 2014 and is expected to be recovered through the ECO Plan. | ||||||||||||
The final outcome of these matters cannot be determined at this time. However, based on the currently known conditions at these sites and the nature and extent of activities relating to these sites, management of Southern Company, Georgia Power, Gulf Power, and Mississippi Power does not believe that additional liabilities, if any, at these sites would be material to their respective financial statements. | ||||||||||||
Nuclear Fuel Disposal Cost Litigation | ||||||||||||
Acting through the DOE and pursuant to the Nuclear Waste Policy Act of 1982, the U.S. government entered into contracts with Alabama Power and Georgia Power that require the DOE to dispose of spent nuclear fuel and high level radioactive waste generated at Plants Hatch and Farley and Plant Vogtle Units 1 and 2 beginning no later than January 31, 1998. The DOE has yet to commence the performance of its contractual and statutory obligation to dispose of spent nuclear fuel. Consequently, Alabama Power and Georgia Power pursued and continue to pursue legal remedies against the U.S. government for its partial breach of contract. | ||||||||||||
As a result of the first lawsuit, Georgia Power recovered approximately $27 million, based on its ownership interests, and Alabama Power recovered approximately $17 million, representing the vast majority of the Southern Company system's direct costs of the expansion of spent nuclear fuel storage facilities at Plants Farley and Hatch and Plant Vogtle Units 1 and 2 from 1998 through 2004. In 2012, Alabama Power credited the award to cost of service for the benefit of customers. Also in 2012, Georgia Power credited the award to accounts where the original costs were charged and used it to reduce rate base, fuel, and cost of service for the benefit of customers. | ||||||||||||
In 2008 and again on March 4, 2014, Alabama Power and Georgia Power filed additional lawsuits against the U.S. government for the costs of continuing to store spent nuclear fuel at Plants Farley and Hatch and Plant Vogtle Units 1 and 2 for the period from January 1, 2005 through December 31, 2010 and from January 1, 2011 through December 31, 2013, respectively. Damages will continue to accumulate until the issue is resolved or storage is provided. The final outcome of these matters cannot be determined at this time; however, no material impact on Southern Company's, Alabama Power's, or Georgia Power's net income is expected. | ||||||||||||
On-site dry spent fuel storage facilities are operational at all three plants and can be expanded to accommodate spent fuel through the expected life of each plant. | ||||||||||||
FERC Matters | ||||||||||||
See Note 3 to the financial statements of Mississippi Power under "FERC Matters" in Item 8 of the Form 10-K for additional information regarding the authority to defer in a regulatory asset costs related to the retirement or partial retirement of generating units as a result of environmental compliance rules. See Note 3 to the financial statements of Southern Company under "Integrated Coal Gasification Combined Cycle" in Item 8 of the Form 10-K, Note 3 to the financial statements of Mississippi Power under "Integrated Coal Gasification Combined Cycle" in Item 8 of the Form 10-K, and "Integrated Coal Gasification Combined Cycle" herein for information regarding Mississippi Power's construction of the Kemper IGCC. | ||||||||||||
On March 31, 2014, Mississippi Power reached a settlement agreement with its wholesale customers and filed a request with the FERC for an increase in the Municipal and Rural Associations (MRA) cost-based electric tariff. The settlement agreement, approved by the FERC on May 20, 2014, provides that base rates under the MRA cost-based electric tariff will increase approximately $10.1 million annually, with revised rates effective for services rendered beginning May 1, 2014. | ||||||||||||
Retail Regulatory Matters | ||||||||||||
Alabama Power | ||||||||||||
See Note 3 to the financial statements of Southern Company and Alabama Power under "Retail Regulatory Matters – Alabama Power" and "Retail Regulatory Matters," respectively, in Item 8 of the Form 10-K for additional information regarding Alabama Power's recovery of retail costs through various regulatory clauses and accounting orders. The recovery balance of each regulatory clause follows: | ||||||||||||
Regulatory Clause | Balance Sheet Line Item | September 30, | December 31, | |||||||||
2014 | 2013 | |||||||||||
(in millions) | ||||||||||||
Rate CNP Environmental – Under | Deferred under recovered regulatory clause revenues | $ | — | $ | 7 | |||||||
Under recovered regulatory clause revenues, current | 25 | — | ||||||||||
Rate CNP PPA – Under | Deferred under recovered regulatory clause revenues | 46 | 18 | |||||||||
Under recovered regulatory clause revenues, current | 9 | — | ||||||||||
Retail Energy Cost Recovery – Over | Other regulatory liabilities, current | 44 | 27 | |||||||||
Deferred over recovered regulatory clause revenues | — | 15 | ||||||||||
Natural Disaster Reserve | Other regulatory liabilities, deferred | 87 | 96 | |||||||||
Georgia Power | ||||||||||||
Rate Plans | ||||||||||||
See Note 3 to the financial statements of Southern Company and Georgia Power under "Retail Regulatory Matters – Georgia Power – Rate Plans" and "Retail Regulatory Matters – Rate Plans," respectively, in Item 8 of the Form 10-K for additional information on Georgia Power's 2013 ARP. | ||||||||||||
In accordance with the terms of the 2013 ARP, on October 3, 2014, Georgia Power filed the following tariff adjustments with the Georgia PSC to become effective January 1, 2015 pending its approval: | ||||||||||||
• | Increase the traditional base tariffs by approximately $107 million to cover additional capacity costs; | |||||||||||
• | Increase the environmental compliance cost recovery tariff by approximately $32 million; | |||||||||||
• | Increase the demand-side management tariffs by approximately $3 million; and | |||||||||||
• | Increase the municipal franchise fee tariff by approximately $3 million, consistent with the adjustments above. | |||||||||||
The ultimate outcome of this matter cannot be determined at this time. | ||||||||||||
Renewables Development | ||||||||||||
See Note 3 to the financial statements of Southern Company and Georgia Power under "Retail Regulatory Matters – Georgia Power – Renewables Development" and "Retail Regulatory Matters – Renewables Development," respectively, in Item 8 of the Form 10-K for additional information. | ||||||||||||
On May 20, 2014, the Georgia PSC approved Georgia Power's application for the certification of two PPAs executed in April 2013 for the purchase of energy from two wind farms in Oklahoma with capacity totaling 250 MWs that will begin in 2016 and end in 2035. | ||||||||||||
As a result of amendments executed during 2014, the biomass PPAs classified as non-affiliate capital leases with related long-term obligations totaling $641 million as of December 31, 2013 no longer meet the definition of a lease or will be accounted for as operating leases. Due to these amendments, as well as others executed during 2014, total non-affiliate operating lease long-term obligations increased by $103 million. As such, estimated long-term obligations for non-affiliate operating leases have been updated to $113 million for 2015, $117 million for 2016, $145 million for 2017, $150 million for 2018, and $1.7 billion for 2019 and thereafter. Estimated long-term obligations did not change for 2014. The counterparties of the aforementioned PPAs have posted collateral as required. See Note 7 to the financial statements of Georgia Power under "Commitments – Fuel and Purchased Power Agreements" in Item 8 of the Form 10-K for additional information. | ||||||||||||
Integrated Resource Plan | ||||||||||||
See Note 3 to the financial statements of Southern Company and Georgia Power under "Retail Regulatory Matters – Georgia Power – Integrated Resource Plans" and "Retail Regulatory Matters – Integrated Resource Plans," respectively, in Item 8 of the Form 10-K for additional information. | ||||||||||||
Georgia Power filed a request with the Georgia PSC on January 10, 2014 to cancel the proposed biomass fuel conversion of Plant Mitchell Unit 3 (155 MWs) because it would not be cost effective for customers. On July 1, 2014, the Georgia PSC approved Georgia Power's request. The January 10, 2014 filing also notified the Georgia PSC of Georgia Power's plan to seek decertification later this year. Georgia Power now expects to request decertification of Plant Mitchell Unit 3 in connection with the triennial Integrated Resource Plan in 2016. Georgia Power plans to continue to operate the unit as needed until the Mercury and Air Toxics Standards rule becomes effective in April 2015. | ||||||||||||
Fuel Cost Recovery | ||||||||||||
See Note 3 to the financial statements of Southern Company and Georgia Power under "Retail Regulatory Matters – Georgia Power – Fuel Cost Recovery" and "Retail Regulatory Matters – Fuel Cost Recovery," respectively, in Item 8 of the Form 10-K for additional information. | ||||||||||||
As of September 30, 2014, Georgia Power's under recovered fuel balance totaled $175 million and is included in deferred charges and other assets on Southern Company's and Georgia Power's Condensed Balance Sheets herein. As of December 31, 2013, Georgia Power's over recovered fuel balance totaled $58 million and is included in current liabilities and other deferred credits and liabilities on Southern Company's and Georgia Power's Condensed Balance Sheets herein. Georgia Power's next fuel case is expected to be filed with the Georgia PSC by February 27, 2015. | ||||||||||||
Fuel cost recovery revenues as recorded on the financial statements are adjusted for differences in actual recoverable fuel costs and amounts billed in current regulated rates. Accordingly, changes in the billing factor will not have a significant effect on Southern Company's or Georgia Power's revenues or net income, but will affect cash flow. | ||||||||||||
Storm Damage Recovery | ||||||||||||
See Note 1 to the financial statements of Georgia Power under "Storm Damage Recovery" in Item 8 of the Form 10-K for additional information. | ||||||||||||
Georgia Power defers and recovers certain costs related to damages from major storms as mandated by the Georgia PSC. As of September 30, 2014 and December 31, 2013, the balance in the regulatory asset related to storm damage was $105 million and $37 million, respectively. | ||||||||||||
Nuclear Construction | ||||||||||||
See Note 3 to the financial statements of Southern Company and Georgia Power under "Retail Regulatory Matters – Georgia Power – Nuclear Construction" and "Retail Regulatory Matters – Nuclear Construction," respectively, in Item 8 of the Form 10-K for additional information regarding Georgia Power's construction of Plant Vogtle Units 3 and 4, Vogtle Construction Monitoring (VCM) reports, and pending litigation. | ||||||||||||
In 2008, Georgia Power, acting for itself and as agent for the Vogtle Owners, entered into an agreement (Vogtle 3 and 4 Agreement) with the Contractor, pursuant to which the Contractor agreed to design, engineer, procure, construct, and test Plant Vogtle Units 3 and 4. Under the terms of the Vogtle 3 and 4 Agreement, the Vogtle Owners agreed to pay a purchase price that is subject to certain price escalations and adjustments, including fixed escalation amounts and index-based adjustments, as well as adjustments for change orders, and performance bonuses for early completion and unit performance. Each Vogtle Owner is severally (and not jointly) liable for its proportionate share, based on its ownership interest, of all amounts owed to the Contractor under the Vogtle 3 and 4 Agreement. Georgia Power's proportionate share is 45.7%. The Vogtle 3 and 4 Agreement provides for liquidated damages upon the Contractor's failure to fulfill the schedule and performance guarantees. The Contractor's liability to the Vogtle Owners for schedule and performance liquidated damages and warranty claims is subject to a cap. | ||||||||||||
Certain payment obligations of Westinghouse and Stone & Webster, Inc. under the Vogtle 3 and 4 Agreement are guaranteed by Toshiba Corporation and The Shaw Group, Inc., respectively. In the event of certain credit rating downgrades of any Vogtle Owner, such Vogtle Owner will be required to provide a letter of credit or other credit enhancement. The Vogtle Owners may terminate the Vogtle 3 and 4 Agreement at any time for their convenience, provided that the Vogtle Owners will be required to pay certain termination costs. The Contractor may terminate the Vogtle 3 and 4 Agreement under certain circumstances, including certain Vogtle Owner suspension or delays of work, action by a governmental authority to permanently stop work, certain breaches of the Vogtle 3 and 4 Agreement by the Vogtle Owners, Vogtle Owner insolvency, and certain other events. | ||||||||||||
In 2009, the NRC issued an Early Site Permit and Limited Work Authorization which allowed limited work to begin on Plant Vogtle Units 3 and 4. The NRC certified the Westinghouse Design Control Document, as amended (DCD), for the AP1000 nuclear reactor design, in late 2011, and issued combined construction and operating licenses (COLs) in early 2012. Receipt of the COLs allowed full construction to begin. There have been technical and procedural challenges to the construction and licensing of Plant Vogtle Units 3 and 4, at the federal and state level, and additional challenges are expected as construction proceeds. | ||||||||||||
In 2009, the Georgia PSC approved inclusion of the Plant Vogtle Units 3 and 4 related CWIP accounts in rate base, and the State of Georgia enacted the Georgia Nuclear Energy Financing Act, which allows Georgia Power to recover financing costs for nuclear construction projects certified by the Georgia PSC. Financing costs are recovered on all applicable certified costs through annual adjustments to the NCCR tariff by including the related CWIP accounts in rate base during the construction period. The Georgia PSC approved increases to the NCCR tariff of approximately $223 million, $35 million, $50 million, and $60 million, effective January 1, 2011, 2012, 2013, and 2014, respectively. On October 31, 2014, Georgia Power filed to increase the NCCR tariff by approximately $27 million effective January 1, 2015 pending Georgia PSC approval. Through the NCCR tariff, Georgia Power is collecting and amortizing to earnings approximately $91 million of financing costs, capitalized in 2009 and 2010, over the five-year period ending December 31, 2015, in addition to the ongoing financing costs. At September 30, 2014, approximately $23 million of these 2009 and 2010 costs remained unamortized in CWIP. | ||||||||||||
Georgia Power is required to file semi-annual VCM reports with the Georgia PSC by February 28 and August 31 each year. If the projected certified construction capital costs to be borne by Georgia Power increase by 5% or the projected in-service dates are significantly extended, Georgia Power is required to seek an amendment to the Plant Vogtle Units 3 and 4 certificate from the Georgia PSC. Accordingly, Georgia Power's eighth VCM report filed in February 2013 requested an amendment to the certificate to increase the estimated in-service capital cost of Plant Vogtle Units 3 and 4 from $4.4 billion to $4.8 billion and to extend the estimated in-service dates to the fourth quarter 2017 and the fourth quarter 2018 for Plant Vogtle Units 3 and 4, respectively. Associated financing costs during the construction period are estimated to total approximately $2.0 billion. | ||||||||||||
In September 2013, the Georgia PSC approved a stipulation entered into by Georgia Power and the Georgia PSC staff to waive the requirement to amend the Plant Vogtle Units 3 and 4 certificate, until the completion of Plant Vogtle Unit 3, or earlier if deemed appropriate by the Georgia PSC and Georgia Power. In accordance with the Georgia Integrated Resource Planning Act, any costs incurred by Georgia Power in excess of the certified amount will not be included in rate base, unless shown to be reasonable and prudent. In addition, financing costs on any excess construction-related costs potentially would be subject to recovery through AFUDC instead of the NCCR tariff. On August 19, 2014, the Georgia PSC approved a combined ninth and tenth VCM report covering the period from January 1 through December 31, 2013 (Ninth/Tenth VCM report), including construction capital costs incurred, which through December 31, 2013 totaled $2.6 billion. Georgia Power resumed filing semi-annual reports with the eleventh VCM report filed on August 28, 2014, which requests approval of an additional $0.2 billion in costs incurred from January 1, 2014 through June 30, 2014. | ||||||||||||
In 2012, the Vogtle Owners and the Contractor began negotiations regarding the costs associated with design changes to the DCD and the delays in the timing of approval of the DCD and issuance of the COLs, including the assertion by the Contractor that the Vogtle Owners are responsible for these costs under the terms of the Vogtle 3 and 4 Agreement. Also in 2012, Georgia Power and the other Vogtle Owners filed suit against the Contractor in the U.S. District Court for the Southern District of Georgia seeking a declaratory judgment that the Vogtle Owners are not responsible for these costs. In 2012, the Contractor also filed suit against Georgia Power and the other Vogtle Owners in the U.S. District Court for the District of Columbia alleging the Vogtle Owners are responsible for these costs. In August 2013, the U.S. District Court for the District of Columbia dismissed the Contractor's suit, ruling that the proper venue is the U.S. District Court for the Southern District of Georgia. The Contractor appealed the decision to the U.S. Court of Appeals for the District of Columbia Circuit in September 2013. The portion of additional costs claimed by the Contractor in its initial complaint that would be attributable to Georgia Power (based on Georgia Power's ownership interest) is approximately $425 million (in 2008 dollars). The Contractor also asserted it is entitled to further schedule extensions. On May 22, 2014, the Contractor filed an amended counterclaim to the suit pending in the U.S. District Court for the Southern District of Georgia alleging that (i) the design changes to the DCD imposed by the NRC delayed module production and the impacts to the Contractor are recoverable by the Contractor under the Vogtle 3 and 4 Agreement and (ii) the changes to the basemat rebar design required by the NRC caused additional costs and delays recoverable by the Contractor under the Vogtle 3 and 4 Agreement. The Contractor did not specify in its amended counterclaim the amounts relating to these new allegations, but the Contractor subsequently asserted, and may from time to time continue to assert, that it is entitled to additional payments with respect to these new allegations, any of which could be substantial. Georgia Power does not agree with either the proposed cost or schedule adjustments or that the Vogtle Owners have any responsibility for costs related to these issues. Litigation is ongoing and Georgia Power intends to vigorously defend the positions of the Vogtle Owners. Georgia Power also expects negotiations with the Contractor to continue with respect to cost and schedule during which negotiations the parties may reach a mutually acceptable compromise of their positions. | ||||||||||||
Processes are in place that are designed to assure compliance with the requirements specified in the DCD and the COLs, including inspections by Southern Nuclear and the NRC that occur throughout construction. As a result of such compliance processes, certain license amendment requests have been filed and approved or are pending before the NRC. Various design and other licensing-based compliance issues are expected to arise as construction proceeds, which may result in additional license amendments or require other resolution. If any license amendment requests or other licensing-based compliance issues are not resolved in a timely manner, there may be delays in the project schedule that could result in increased costs either to the Vogtle Owners or the Contractor or to both. | ||||||||||||
As construction continues, the risk remains that ongoing challenges with Contractor performance including additional challenges in the fabrication, assembly, delivery, and installation of the shield building and structural modules, delays in the receipt of the remaining permits necessary for the operation of Plant Vogtle Units 3 and 4, or other issues could arise and may further impact project schedule and cost. While Georgia Power expects the Contractor to employ mitigation efforts to maintain the current project schedule and believes the Contractor is responsible for any related costs, Contractor performance and progress in recent months on the assembly and installation of the shield building and structural modules have resulted in additional schedule pressure. | ||||||||||||
Additional claims by the Contractor or Georgia Power (on behalf of the Vogtle Owners) are also likely to arise throughout construction. These claims may be resolved through formal and informal dispute resolution procedures under the Vogtle 3 and 4 Agreement, but also may be resolved through litigation. | ||||||||||||
The ultimate outcome of these matters cannot be determined at this time. | ||||||||||||
Gulf Power | ||||||||||||
Retail Base Rate Case | ||||||||||||
See Note 3 to the financial statements of Gulf Power under "Retail Regulatory Matters – Retail Base Rate Case" in Item 8 of the Form 10-K for additional information. | ||||||||||||
In December 2013, the Florida PSC approved a settlement agreement that provides Gulf Power may reduce depreciation expense and record a regulatory asset up to $62.5 million between January 2014 and June 2017. In any given month, such depreciation expense reduction may not exceed the amount necessary for the ROE, as reported to the Florida PSC monthly, to reach the midpoint of the authorized retail ROE range then in effect. Gulf Power recognized a $5.4 million reduction in depreciation expense in the first nine months of 2014. | ||||||||||||
Cost Recovery Clauses | ||||||||||||
See Note 3 to the financial statements of Gulf Power under "Retail Regulatory Matters – Cost Recovery Clauses" in Item 8 of the Form 10-K for additional information regarding Gulf Power's recovery of retail costs through various regulatory clauses and accounting orders. Gulf Power has four regulatory clauses which are approved by the Florida PSC. The recovery balance of each regulatory clause follows: | ||||||||||||
Recovery Clause | Balance Sheet Location | September 30, 2014 | December 31, 2013 | |||||||||
(in millions) | ||||||||||||
Fuel Cost Recovery – Under | Under recovered regulatory clause revenues | $ | 41.3 | $ | 21 | |||||||
Purchased Power Capacity Recovery – Over | Other regulatory liabilities, current | 6.8 | — | |||||||||
Purchased Power Capacity Recovery – Under | Under recovered regulatory clause revenues | — | 2.8 | |||||||||
Environmental Cost Recovery – Under | Under recovered regulatory clause revenues | 6.3 | 14.4 | |||||||||
Energy Conservation Cost Recovery – Under | Under recovered regulatory clause revenues | 2.6 | 7 | |||||||||
On October 22, 2014, the Florida PSC approved Gulf Power's annual rate clause request for its fuel, purchased power capacity, environmental, and energy conservation cost recovery factors for 2015. The net effect of the approved changes is a $41.2 million increase in annual revenue for 2015. The increased revenues will not have a significant impact on net income since most of the revenues will be offset by expenses. | ||||||||||||
Retail Fuel Cost Recovery | ||||||||||||
See Note 1 and Note 3 to the financial statements of Gulf Power under "Revenues" and "Retail Regulatory Matters – Fuel Cost Recovery," respectively, in Item 8 of the Form 10-K for additional information. | ||||||||||||
Gulf Power has established fuel cost recovery rates as approved annually by the Florida PSC. In late 2013 and the first half of 2014, Gulf Power experienced higher than expected costs for natural gas and purchased power. If the projected year-end fuel cost over or under recovery balance exceeds 10% of the projected fuel revenues for the period, Gulf Power is required to notify the Florida PSC and indicate if an adjustment to the fuel recovery factor is being requested. Gulf Power filed such notice with the Florida PSC on July 18, 2014, but no adjustment to the factor was requested for 2014. Under recovered fuel costs at September 30, 2014 totaled $41.3 million and are included in under recovered regulatory clause revenues on Gulf Power's Condensed Balance Sheet herein. Fuel cost recovery revenues, as recorded on the financial statements, are adjusted for differences in actual recoverable costs and amounts billed in current regulated rates. Accordingly, any changes in the billing factor would have no significant effect on Gulf Power's revenues or net income, but will affect cash flow. | ||||||||||||
Mississippi Power | ||||||||||||
Energy Efficiency | ||||||||||||
See Note 3 to the financial statements of Mississippi Power under "Retail Regulatory Matters – Energy Efficiency" in Item 8 of the Form 10-K for additional information. | ||||||||||||
On June 3, 2014, the Mississippi PSC approved Mississippi Power's 2014 Energy Efficiency Quick Start Plan filing, which includes a portfolio of energy efficiency programs. On October 17, 2014, Mississippi Power filed a revised compliance filing, which proposed an increase of $6.7 million in retail revenues for the period December 2014 through December 2015. The Mississippi PSC approved the revised filing on November 4, 2014. | ||||||||||||
Performance Evaluation Plan | ||||||||||||
See Note 3 to the financial statements of Mississippi Power under "Retail Regulatory Matters – Performance Evaluation Plan" in Item 8 of the Form 10-K for additional information regarding Mississippi Power's base rates. | ||||||||||||
On March 18, 2014, Mississippi Power submitted its annual PEP lookback filing for 2013, which indicated no surcharge or refund. On March 31, 2014, the Mississippi PSC suspended the filing to allow more time for review. | ||||||||||||
On June 3, 2014, the Mississippi PSC issued an order for the purpose of investigating and reviewing the adoption of a uniform formula rate plan for Mississippi Power and other regulated electric utilities in Mississippi. | ||||||||||||
The ultimate outcome of these matters cannot be determined at this time. | ||||||||||||
System Restoration Rider | ||||||||||||
See Note 3 to the financial statements of Mississippi Power under "Retail Regulatory Matters – System Restoration Rider" in Item 8 of the Form 10-K for additional information. | ||||||||||||
On April 1, 2014, the Mississippi PSC approved Mississippi Power's request to continue a zero System Restoration Rider rate for 2014 and to accrue approximately $3.3 million to the property damage reserve in 2014. | ||||||||||||
Environmental Compliance Overview Plan | ||||||||||||
See Note 3 to the financial statements of Mississippi Power under "Retail Regulatory Matters – Environmental Compliance Overview Plan" in Item 8 of the Form 10-K for information on Mississippi Power's annual environmental filing with the Mississippi PSC. | ||||||||||||
In 2012, the Mississippi PSC approved Mississippi Power's request for a CPCN to construct a scrubber on Plant Daniel Units 1 and 2. These units are jointly owned by Mississippi Power and Gulf Power, with 50% ownership each. The estimated total cost of the project is approximately $660 million, with Mississippi Power's portion being $330 million, excluding AFUDC. The project is scheduled for completion in December 2015. Mississippi Power's portion of the cost is expected to be recovered through the ECO Plan following the scheduled completion of the project in December 2015. As of September 30, 2014, total project expenditures were $464.1 million, of which Mississippi Power's portion was $236.3 million, plus AFUDC of $16.1 million. | ||||||||||||
On August 1, 2014, Mississippi Power entered into a settlement agreement with the Sierra Club (Sierra Club Settlement Agreement) that, among other things, requires the Sierra Club to dismiss or withdraw all pending legal and regulatory challenges to the issuance of the CPCN to construct a scrubber on Plant Daniel Units 1 and 2. In addition, and consistent with Mississippi Power's ongoing evaluation of recent environmental rules and regulations, Mississippi Power agreed to retire, repower with natural gas, or convert to an alternative non-fossil fuel source Plant Sweatt Units 1 and 2 (80 MWs) no later than December 2018. Mississippi Power also agreed that it would cease burning coal and other solid fuel at Plant Watson Units 4 and 5 (750 MWs) and begin operating those units solely on natural gas no later than April 2015, and cease burning coal and other solid fuel at Plant Greene County Units 1 and 2 (200 MWs) and begin operating those units solely on natural gas no later than April 2016. On August 4, 2014, Mississippi Power, the Sierra Club, and the Mississippi PSC filed a joint motion to dismiss the appeal related to the CPCN to construct a scrubber on Plant Daniel Units 1 and 2. On August 28, 2014, the Chancery Court dismissed the appeal. | ||||||||||||
In accordance with a 2011 accounting order from the Mississippi PSC, Mississippi Power has the authority to defer in a regulatory asset for future recovery all plant retirement- or partial retirement-related costs resulting from environmental regulations. As of September 30, 2014, $5.5 million of Plant Greene County CWIP had been reclassified as a regulatory asset. Additional costs associated with the remaining net book value of coal-related equipment will be reclassified to a regulatory asset at the time of retirement for Plants Greene County and Watson. Approved regulatory asset costs will be amortized over a period to be determined by the Mississippi PSC. As a result, these decisions are not expected to have a material impact on Southern Company's and Mississippi Power's financial statements. See "Other Matters – Sierra Club Settlement Agreement" herein for additional information. | ||||||||||||
The ultimate outcome of these matters cannot be determined at this time. | ||||||||||||
Fuel Cost Recovery | ||||||||||||
See Note 3 to the financial statements of Mississippi Power under "Retail Regulatory Matters – Fuel Cost Recovery" in Item 8 of the Form 10-K for information regarding Mississippi Power's fuel cost recovery. | ||||||||||||
At September 30, 2014, the amount of under recovered retail fuel costs included on Mississippi Power's Condensed Balance Sheet herein was $13.1 million compared to over recovered retail fuel costs of $14.5 million at December 31, 2013. | ||||||||||||
Ad Valorem Tax Adjustment | ||||||||||||
See Note 3 to the financial statements of Mississippi Power under "Retail Regulatory Matters – Ad Valorem Tax Adjustment" in Item 8 of the Form 10-K for additional information. | ||||||||||||
On May 6, 2014, the Mississippi PSC approved Mississippi Power's annual ad valorem tax adjustment factor filing for 2014, which requested an annual rate increase of 0.38%, or $3.6 million in annual retail revenues, primarily due to an increase in property tax rates. | ||||||||||||
Integrated Coal Gasification Combined Cycle | ||||||||||||
See Note 3 to the financial statements of Southern Company and Mississippi Power under "Integrated Coal Gasification Combined Cycle" in Item 8 of the Form 10-K for information regarding Mississippi Power's construction of the Kemper IGCC. | ||||||||||||
Kemper IGCC Project Approval | ||||||||||||
In 2012, the Mississippi PSC issued the 2012 MPSC CPCN Order, a detailed order confirming the CPCN originally approved by the Mississippi PSC in 2010 authorizing the acquisition, construction, and operation of the Kemper IGCC, which the Sierra Club appealed to the Chancery Court. Later in 2012, the Chancery Court affirmed the 2012 MPSC CPCN Order. In January 2013, the Sierra Club filed an appeal of the Chancery Court's ruling with the Mississippi Supreme Court. | ||||||||||||
On August 1, 2014, Mississippi Power entered into the Sierra Club Settlement Agreement that, among other things, requires the Sierra Club to dismiss or withdraw all pending legal and regulatory challenges against the Kemper IGCC, including the appeal to the Mississippi Supreme Court related to the 2012 MPSC CPCN. On August 4, 2014, Mississippi Power and the Sierra Club filed a joint motion to dismiss the appeal related to the 2012 MPSC CPCN, which the Mississippi Supreme Court granted on September 11, 2014. See "Other Matters – Sierra Club Settlement Agreement" herein for additional information. | ||||||||||||
Kemper IGCC Schedule and Cost Estimate | ||||||||||||
The certificated cost estimate of the Kemper IGCC included in the 2012 MPSC CPCN Order was $2.4 billion, net of $245.3 million of grants awarded to the Kemper IGCC project by the DOE under the Clean Coal Power Initiative Round 2 (DOE Grants) and excluding the cost of the lignite mine and equipment, the cost of the CO2 pipeline facilities, and AFUDC related to the Kemper IGCC. The 2012 MPSC CPCN Order approved a construction cost cap of up to $2.88 billion, with recovery of prudently-incurred costs subject to approval by the Mississippi PSC. Exceptions to the $2.88 billion cost cap include the cost of the lignite mine and equipment, the cost of the CO2 pipeline facilities, AFUDC, and certain general exceptions, including change of law, force majeure, and beneficial capital (which exists when Mississippi Power demonstrates that the purpose and effect of the construction cost increase is to produce efficiencies that will result in a neutral or favorable effect on customers relative to the original proposal for the CPCN) (Cost Cap Exceptions), as contemplated in the 2013 Settlement Agreement (defined below) and the 2012 MPSC CPCN Order. Recovery of the Cost Cap Exception amounts remains subject to review and approval by the Mississippi PSC. | ||||||||||||
The Kemper IGCC was originally projected to be placed in service in May 2014. Mississippi Power placed the combined cycle and the associated common facilities portion of the Kemper IGCC in service on natural gas on August 9, 2014, and continues to focus on completing the remainder of the Kemper IGCC, including the gasifier and the gas clean-up facilities, for which the in-service date is currently expected to occur in the first half of 2016. In accordance with a Mississippi PSC order, on August 18, 2014, Mississippi Power provided an analysis of the costs and benefits of placing the combined cycle and the associated common facilities portion of the Kemper IGCC in service, including the expected accounting treatment. Mississippi Power's analysis requested, among other things, confirmation of Mississippi Power's accounting treatment by the Mississippi PSC of (1) the continued collection of rates as prescribed by the 2013 MPSC Rate Order (defined below), with the current recognition as revenue of the related equity return on all assets placed in service, and the deferral of all remaining rate collections under the 2013 MPSC Rate Order to a regulatory liability account, (2) the continued accrual of AFUDC through the in-service date of the remainder of the Kemper IGCC, and (3) the deferral of operating costs for the combined cycle as regulatory assets. Under Mississippi Power's proposal, non-incremental costs that would have been incurred whether or not the combined cycle was placed in service would be included in a regulatory asset and would continue to be subject to the $2.88 billion cost cap. Additionally, incremental costs that would not have been incurred if the combined cycle had not gone into service would be included in a regulatory asset and would not be subject to the cost cap because these costs are incurred to support operation of the combined cycle. All energy revenues associated with the combined cycle variable operating and maintenance expenses would be credited to this regulatory asset. See "Regulatory Assets and Liabilities" herein for additional information. | ||||||||||||
The ultimate outcome of this matter cannot be determined at this time. | ||||||||||||
Mississippi Power's 2010 project estimate, current cost estimate, and actual costs incurred as of September 30, 2014 for the Kemper IGCC are as follows: | ||||||||||||
Cost Category | 2010 Project Estimate(f) | Current Estimate | Actual Costs at September 30, 2014 | |||||||||
(in billions) | ||||||||||||
Plant Subject to Cost Cap(a) | $ | 2.4 | $ | 4.86 | $ | 4.06 | ||||||
Lignite Mine and Equipment | 0.21 | 0.23 | 0.23 | |||||||||
CO2 Pipeline Facilities | 0.14 | 0.11 | 0.1 | |||||||||
AFUDC(b)(c) | 0.17 | 0.62 | 0.41 | |||||||||
Combined Cycle and Related Assets Placed in | — | — | — | |||||||||
Service – Incremental(d) | ||||||||||||
General Exceptions | 0.05 | 0.1 | 0.07 | |||||||||
Regulatory Asset(c)(e) | — | 0.18 | 0.1 | |||||||||
Total Kemper IGCC(a)(c) | $ | 2.97 | $ | 6.1 | $ | 4.97 | ||||||
(a) | The 2012 MPSC CPCN Order approved a construction cost cap of up to $2.88 billion, net of the DOE Grants and excluding the Cost Cap Exceptions. The Current Estimate and Actual Costs include non-incremental operating and maintenance costs related to the combined cycle and associated common facilities placed in service in August 2014 that are subject to the $2.88 billion cost cap. | |||||||||||
(b) | Mississippi Power's original estimate included recovery of financing costs during construction rather than the accrual of AFUDC. This approach was not approved by the Mississippi PSC in 2012 as described in "Rate Recovery of Kemper IGCC Costs." | |||||||||||
(c) | Amounts in the Current Estimate reflect costs through March 31, 2016. | |||||||||||
(d) | Incremental operating and maintenance costs related to the combined cycle and associated common facilities placed in service on August 9, 2014, net of costs related to energy sales. | |||||||||||
(e) | The 2012 MPSC CPCN Order approved deferral of non-capital Kemper IGCC-related costs during construction as described in "Rate Recovery of Kemper IGCC Costs – Regulatory Assets and Liabilities." | |||||||||||
(f) | The 2010 Project Estimate is the certificated cost estimate adjusted to include the certificated estimate for the CO2 pipeline facilities which was approved in 2011 by the Mississippi PSC. | |||||||||||
Of the total costs incurred as of September 30, 2014, $2.88 billion was included in property, plant, and equipment (which is net of the DOE Grants and estimated probable losses of $1.98 billion), $104.3 million in other regulatory assets, and $3.9 million in other deferred charges and assets in Southern Company's and Mississippi Power's Condensed Balance Sheets herein, and $1.1 million was previously expensed. | ||||||||||||
Mississippi Power does not intend to seek any rate recovery or joint owner contributions for any related costs that exceed the $2.88 billion cost cap, net of the DOE Grants and excluding the Cost Cap Exceptions. Southern Company and Mississippi Power recorded pre-tax charges to income for revisions to the cost estimate of $418.0 million ($258.1 million after tax) in the third quarter 2014 and $380.0 million ($234.7 million after tax) in the first quarter 2014. These amounts are in addition to charges totaling $1.18 billion ($728.7 million after tax) recognized through December 31, 2013. The first quarter 2014 revised cost estimate primarily reflected costs related to decreases in construction labor productivity at the Kemper IGCC due in large part to adverse weather, unexpected excessive craft labor turn-over, and unanticipated installation inefficiencies, as well as additional risk related to the expected in-service date. The third quarter 2014 revised cost estimate primarily reflects costs related to the extension of the project schedule for the remainder of the Kemper IGCC (including the gasifier and the gas clean-up facilities) as a result of matters related to the time expected to be required for start-up activities and operational readiness, including enhancing the scope of specialized operator training. The current estimate includes costs through March 31, 2016. Any further extension of the in-service date is currently estimated to result in additional base costs of approximately $20 million to $30 million per month, which includes maintaining necessary levels of start-up labor, materials, and fuel, as well as operational resources required to execute start-up and commissioning activities. | ||||||||||||
Any further cost increases and/or extensions of the in-service date with respect to the Kemper IGCC may result from factors including, but not limited to, labor costs and productivity, adverse weather conditions, shortages and inconsistent quality of equipment, materials, and labor, contractor or supplier delay, non-performance under construction or other agreements, operational performance, operational readiness, including specialized operator training, unforeseen engineering or design problems, start-up activities for this first-of-a-kind technology (including major equipment failure and system integration), and/or operations. In subsequent periods, any further changes in the estimated costs to complete construction and start-up of the Kemper IGCC subject to the $2.88 billion cost cap, net of the DOE Grants and excluding the Cost Cap Exceptions, will be reflected in Southern Company's statements of income and Mississippi Power's statements of operations and these changes could be material. | ||||||||||||
Rate Recovery of Kemper IGCC Costs | ||||||||||||
The ultimate outcome of the rate recovery matters discussed herein, including the resolution of legal challenges, determinations of prudency, and the specific manner of recovery of prudently-incurred costs, cannot be determined at this time, but could have a material impact on Southern Company's and Mississippi Power's results of operations, financial condition, and liquidity. | ||||||||||||
2012 MPSC CPCN Order | ||||||||||||
The 2012 MPSC CPCN Order included provisions relating to both Mississippi Power's recovery of financing costs during the course of construction of the Kemper IGCC and Mississippi Power's recovery of costs following the date the Kemper IGCC is placed in service. With respect to recovery of costs following the in-service date of the Kemper IGCC, the 2012 MPSC CPCN Order provided for the establishment of operational cost and revenue parameters based upon assumptions in Mississippi Power's petition for the CPCN. Mississippi Power expects the Mississippi PSC to apply operational parameters in connection with the evaluation of the Seven-Year Rate Plan (described below) and other related proceedings during the operation of the Kemper IGCC. To the extent the Mississippi PSC determines the Kemper IGCC does not meet the operational parameters ultimately adopted by the Mississippi PSC or Mississippi Power incurs additional costs to satisfy such parameters, there could be a material adverse impact on Southern Company's or Mississippi Power's financial statements. | ||||||||||||
2013 Settlement Agreement | ||||||||||||
In January 2013, Mississippi Power entered into a settlement agreement with the Mississippi PSC that, among other things, establishes the process for resolving matters regarding cost recovery related to the Kemper IGCC and dismissed Mississippi Power's appeal of the 2012 MPSC CWIP Order (2013 Settlement Agreement). Under the 2013 Settlement Agreement, Mississippi Power agreed to limit the portion of prudently-incurred Kemper IGCC costs to be included in retail rate base to the $2.4 billion certificated cost estimate, plus the Cost Cap Exceptions, but excluding AFUDC, and any other costs permitted or determined to be excluded from the $2.88 billion cost cap by the Mississippi PSC. The 2013 Settlement Agreement also allows Mississippi Power to secure alternate financing for costs that are not otherwise recovered in any Mississippi PSC rate proceedings contemplated by the 2013 Settlement Agreement. Legislation to authorize a multi-year rate plan and legislation to provide for alternate financing through securitization of up to $1.0 billion of prudently-incurred costs was enacted into law in February 2013. Mississippi Power intends to securitize (1) prudently-incurred costs in excess of the certificated cost estimate and up to the $2.88 billion cost cap, net of the DOE Grants and excluding the Cost Cap Exceptions, (2) accrued AFUDC, and (3) other prudently-incurred costs, which include carrying costs from the estimated in-service date until securitization is finalized and other costs not included in the Seven-Year Rate Plan (described below) as approved by the Mississippi PSC. The rate recovery necessary to recover the annual costs of securitization is expected to be filed and become effective following completion of the Mississippi PSC's prudence review of the costs to be securitized. With the extension of the Kemper IGCC in-service date, under certain potential scenarios, the amount eligible to be securitized may exceed $1.0 billion. In that event, Mississippi Power would expect to pursue rate recovery of any additional eligible costs. | ||||||||||||
The 2013 Settlement Agreement provides that Mississippi Power may terminate the 2013 Settlement Agreement if certain conditions are not met, if Mississippi Power is unable to secure alternate financing for any prudently-incurred Kemper IGCC costs not otherwise recovered in any Mississippi PSC rate proceeding contemplated by the 2013 Settlement Agreement, or if the Mississippi PSC fails to comply with the requirements of the 2013 Settlement Agreement. Mississippi Power continues to work with the Mississippi PSC and the Mississippi Public Utilities Staff (MPUS) to implement the requirements of the 2013 Settlement Agreement. | ||||||||||||
2013 MPSC Rate Order | ||||||||||||
Consistent with the terms of the 2013 Settlement Agreement, in January 2013, Mississippi Power filed a new request to increase retail rates in 2013 by $172 million annually, based on projected investment for 2013. | ||||||||||||
In March 2013, the Mississippi PSC issued a rate order approving retail rate increases of 15% effective March 19, 2013, and 3% effective January 1, 2014, which collectively are designed to collect $156 million annually beginning in 2014 (2013 MPSC Rate Order). For the first nine months of 2014, $121.9 million has been collected, with $16.8 million recognized in retail revenues in Southern Company's Statements of Income and Mississippi Power's Condensed Statements of Operations herein and the remainder deferred in other regulatory liabilities to be used to mitigate customer rate impacts after the Kemper IGCC is placed in service and included in Southern Company's and Mississippi Power's Condensed Balance Sheets herein. Since March 2013, $220.0 million has been collected, with $27.1 million recognized in retail revenues in Southern Company's Statements of Income and Mississippi Power's Condensed Statements of Operations herein, and the remainder deferred in other regulatory liabilities to be used to mitigate customer rate impacts after the Kemper IGCC is placed in service and included in Southern Company's and Mississippi Power's Condensed Balance Sheets herein. | ||||||||||||
Because the 2013 MPSC Rate Order did not provide for the inclusion of CWIP in rate base as permitted by the Baseload Act, Mississippi Power continues to record AFUDC on the Kemper IGCC through the in-service date. Mississippi Power will not record AFUDC on any additional costs of the Kemper IGCC that exceed the $2.88 billion cost cap, except for Cost Cap Exception amounts. Mississippi Power will continue to record AFUDC and to comply with the 2013 MPSC Rate Order by collecting and deferring the approved rates through the in-service date unless directed to do otherwise by the Mississippi PSC. | ||||||||||||
In March 2013, a legal challenge to the 2013 MPSC Rate Order was filed by Thomas A. Blanton with the Mississippi Supreme Court, which remains pending against Mississippi Power and the Mississippi PSC. On April 22, 2014, the Mississippi Supreme Court requested further briefing in this proceeding on a number of substantive issues relating to the 2013 MPSC Rate Order. An adverse outcome could affect the rates that went into effect on March 19, 2013 and January 1, 2014 and the related amounts deferred as a regulatory liability. | ||||||||||||
See "Regulatory Assets and Liabilities" herein for additional information. | ||||||||||||
Seven-Year Rate Plan | ||||||||||||
In March 2013, Mississippi Power, in compliance with the 2013 MPSC Rate Order, filed a revision to the proposed rate recovery plan with the Mississippi PSC for the Kemper IGCC for cost recovery through 2020 (Seven-Year Rate Plan), which is still under review by the Mississippi PSC. In the Seven-Year Rate Plan, Mississippi Power proposed recovery of an annual revenue requirement of approximately $156 million of Kemper IGCC-related operational costs and rate base amounts, including plant costs equal to the $2.4 billion certificated cost estimate. The 2013 MPSC Rate Order, which increased rates beginning in March 2013, is integral to the Seven-Year Rate Plan, which contemplates amortization of the regulatory liability balance at the in-service date to be used to mitigate customer rate impacts through 2020, based on a fixed amortization schedule that requires approval by the Mississippi PSC. Under the Seven-Year Rate Plan, Mississippi Power proposed annual rate recovery to remain the same from 2014 through 2020, with the proposed revenue requirement approximating the forecasted cost of service for the period 2014 through 2020. Under Mississippi Power's proposal, to the extent the actual annual cost of service differs from the approved forecast for certain items, the difference would be deferred as a regulatory asset or liability, subject to accrual of carrying costs, and would be included in the next year's rate recovery calculation. If any deferred balance remains at the end of 2020, the Mississippi PSC will review the amount and, if approved, determine the appropriate method and period of disposition. See "Regulatory Assets and Liabilities" herein for additional information. | ||||||||||||
The revenue requirements set forth in the Seven-Year Rate Plan assume the sale of a 15% undivided interest in the Kemper IGCC to SMEPA and utilization of bonus depreciation as provided by the American Taxpayer Relief Act of 2012 (ATRA), which currently requires that assets be placed in service in 2014. While Mississippi Power placed the combined cycle and the associated common facilities portion of the Kemper IGCC in service on August 9, 2014, extension of the in-service date for the remainder of the Kemper IGCC beyond 2014 results in the loss of tax benefits related to bonus depreciation under current law. The estimated value to retail customers of the bonus depreciation tax benefits not associated with the combined cycle and the associated common facilities portion of the Kemper IGCC is approximately $130 million to $160 million. | ||||||||||||
Mississippi Power plans to further revise the Seven-Year Rate Plan to reflect changes including the revised in-service date, the change in expected benefits relating to investment tax credits, various other revenue requirement items, and other tax matters, including bonus depreciation, which include ensuring compliance with the normalization requirements of the Internal Revenue Code. The impact of these revisions for the average annual retail revenue requirement is estimated to be an increase of approximately $60 million to $70 million through 2020. The revision of the Seven-Year Rate Plan is also expected to reflect rate mitigation options identified by Mississippi Power, including Section 174 Research and Experimental (R&E) tax deductions, that, if approved by the Mississippi PSC, would result in no change to the total customer rate impacts contemplated in the original Seven-Year Rate Plan. See "Income Tax Matters" herein for additional information. | ||||||||||||
Any further cost increases and/or extensions of the in-service date with respect to the Kemper IGCC could have an adverse impact on the Seven-Year Rate Plan, including the inability to recover items considered as Cost Cap Exceptions. | ||||||||||||
In the event that the Mississippi PSC does not approve or Mississippi Power withdraws the Seven-Year Rate Plan, as ultimately revised, Mississippi Power would seek rate recovery through alternate means, which could include a traditional rate case. | ||||||||||||
In addition to current estimated costs at September 30, 2014 of $6.10 billion, Mississippi Power anticipates that it will incur additional costs after the Kemper IGCC in-service date until the Seven-Year Rate Plan, as ultimately amended or revised, and securitization are finalized. These costs include, but are not limited to, regulatory costs and additional carrying costs which could be material. Recovery of these costs would be subject to approval by the Mississippi PSC. | ||||||||||||
Prudence Reviews | ||||||||||||
The Mississippi PSC's review of Kemper IGCC costs is ongoing. On August 5, 2014, the Mississippi PSC ordered that a consolidated prudence determination of all Kemper IGCC costs be completed after the entire project has been placed in service and has demonstrated availability for a reasonable period of time as determined by the Mississippi PSC and the MPUS. The Mississippi PSC has encouraged the parties to work in good faith to settle contested issues and Mississippi Power is working to reach a mutually acceptable resolution. | ||||||||||||
Regulatory Assets and Liabilities | ||||||||||||
Consistent with the treatment of non-capital costs incurred during the pre-construction period, the Mississippi PSC granted Mississippi Power the authority to defer all non-capital Kemper IGCC-related costs to a regulatory asset through the in-service date, subject to review of such costs by the Mississippi PSC. Such costs include, but are not limited to, interest costs on Kemper assets currently placed in service, costs associated with Mississippi PSC and MPUS consultants, prudence costs, legal fees, and operating expenses associated with assets placed in service. | ||||||||||||
On August 18, 2014, Mississippi Power requested confirmation by the Mississippi PSC of Mississippi Power's authority to defer all operating expenses associated with the operation of the combined cycle subject to review of such costs by the Mississippi PSC. In addition, Mississippi Power is authorized to accrue carrying costs on the unamortized balance of such regulatory assets at a rate and in a manner to be determined by the Mississippi PSC in future cost recovery mechanism proceedings. As of September 30, 2014, the regulatory asset balance associated with the Kemper IGCC was $104.3 million. The projected balance at March 31, 2016 is estimated to total approximately $180 million. The amortization period of 40 years proposed by Mississippi Power for any such costs approved for recovery remains subject to approval by the Mississippi PSC. | ||||||||||||
In March 2013, the Mississippi PSC issued the 2013 MPSC Rate Order approving retail rate increases of 15% effective March 19, 2013, and 3% effective January 1, 2014, which collectively are designed to collect $156 million annually beginning in 2014. Because the 2013 MPSC Rate Order did not provide for the inclusion of CWIP in rate base as permitted by the Baseload Act, Mississippi Power continues to record AFUDC on the Kemper IGCC through the in-service date. To comply with the 2013 MPSC Rate Order, Mississippi Power is deferring the collections under the approved rates through the in-service date in a regulatory liability to be amortized and used to mitigate customer rate impacts after the Kemper IGCC is placed in service. Mississippi Power is accruing interest costs on the unamortized balance of such regulatory liability for the benefit of retail customers. The disposition of the regulatory liability will be determined by the Mississippi PSC in future cost recovery mechanism proceedings. | ||||||||||||
Lignite Mine and CO2 Pipeline Facilities | ||||||||||||
In conjunction with the Kemper IGCC, Mississippi Power will own the lignite mine and equipment and has acquired and will continue to acquire mineral reserves located around the Kemper IGCC site. The mine started commercial operation in June 2013. | ||||||||||||
In 2010, Mississippi Power executed a 40-year management fee contract with Liberty Fuels Company, LLC (Liberty Fuels), a wholly-owned subsidiary of The North American Coal Corporation, which developed, constructed, and is operating and managing the mining operations. The contract with Liberty Fuels is effective through the end of the mine reclamation. As the mining permit holder, Liberty Fuels has a legal obligation to perform mine reclamation and Mississippi Power has a contractual obligation to fund all reclamation activities. In addition to the obligation to fund the reclamation activities, Mississippi Power currently provides working capital support to Liberty Fuels through cash advances for capital purchases, payroll, and other operating expenses. See Note 1 to the financial statements of Mississippi Power under "Asset Retirement Obligations and Other Costs of Removal" and "Variable Interest Entities" in Item 8 of the Form 10-K for additional information. | ||||||||||||
In addition, Mississippi Power has constructed and will operate the CO2 pipeline for the planned transport of captured CO2 for use in enhanced oil recovery. Mississippi Power has entered into agreements with Denbury Onshore (Denbury), a subsidiary of Denbury Resources Inc., and Treetop Midstream Services, LLC (Treetop), an affiliate of Tellus Operating Group, LLC and a subsidiary of Tengrys, LLC, pursuant to which Denbury will purchase 70% of the CO2 captured from the Kemper IGCC and Treetop will purchase 30% of the CO2 captured from the Kemper IGCC. The agreements with Denbury and Treetop provide termination rights in the event that Mississippi Power does not satisfy its contractual obligation with respect to deliveries of captured CO2 by May 11, 2015. While Mississippi Power has received no indication from either Denbury or Treetop of their intent to terminate their respective agreements, any termination could result in a material reduction in future by-product sales revenues and could have a material financial impact on Mississippi Power to the extent Mississippi Power is not able to enter into other similar contractual arrangements. | ||||||||||||
The ultimate outcome of these matters cannot be determined at this time. | ||||||||||||
Proposed Sale of Undivided Interest to SMEPA | ||||||||||||
In 2010, Mississippi Power and SMEPA entered into an asset purchase agreement (APA) whereby SMEPA agreed to purchase a 17.5% undivided interest in the Kemper IGCC. In 2012, the Mississippi PSC approved the sale and transfer of the 17.5% undivided interest in the Kemper IGCC to SMEPA. Later in 2012, Mississippi Power and SMEPA signed an amendment to the APA whereby SMEPA reduced its purchase commitment percentage from a 17.5% to a 15% undivided interest in the Kemper IGCC. In March 2013, Mississippi Power and SMEPA signed an amendment to the APA whereby Mississippi Power and SMEPA agreed to amend the power supply agreement entered into by the parties in April 2011 to reduce the capacity amounts to be received by SMEPA by half (approximately 75 MWs) at the sale and transfer of the undivided interest in the Kemper IGCC to SMEPA. Capacity revenues under the April 2011 power supply agreement were $17.5 million in 2013. In December 2013, Mississippi Power and SMEPA agreed to extend SMEPA's option to purchase through December 31, 2014. | ||||||||||||
In 2012 and on January 2, 2014, Mississippi Power received $150 million and $75 million, respectively, of interest-bearing refundable deposits from SMEPA to be applied to the purchase. While the expectation is that these amounts will be applied to the purchase price at closing, Mississippi Power would be required to refund the deposits upon the termination of the APA or within 15 days of a request by SMEPA for a full or partial refund. Given the interest-bearing nature of the deposit and SMEPA's ability to request a refund, the deposits have been presented as a current liability in Southern Company's and Mississippi Power's Condensed Balance Sheets herein and as financing proceeds in Southern Company's and Mississippi Power's Condensed Statements of Cash Flows herein. In July 2013, Southern Company entered into an agreement with SMEPA under which Southern Company has agreed to guarantee the obligations of Mississippi Power with respect to any required refund of the deposits. | ||||||||||||
By letter agreement dated October 6, 2014, Mississippi Power and SMEPA agreed in principle with respect to SMEPA's proposed purchase of a 15% undivided interest in the Kemper IGCC. The parties agreed to further amend the APA as follows: (1) Mississippi Power agreed to cap at $2.88 billion the portion of the purchase price for development and construction costs, net of the Cost Cap Exceptions; title insurance reimbursement, and AFUDC and/or carrying costs through the Closing Commitment Date (defined below); (2) SMEPA agreed to close the purchase within 180 days after the date of the execution of the amended APA or before the plant's in-service date, whichever occurs first (Closing Commitment Date), subject only to satisfaction of certain conditions; and (3) AFUDC and/or carrying costs will continue to be accrued on the capped development and construction costs, the Cost Cap Exceptions and any operating costs, net of revenues until the amended APA is executed by both parties, and thereafter AFUDC and/or carrying costs and payment of interest on SMEPA's deposited money will be suspended and waived provided closing occurs by the Closing Commitment Date. | ||||||||||||
The letter agreement also provides for certain post-closing adjustments to address any differences between the actual and the estimated amounts of post-in-service date costs (both expenses and capital) and revenue credits for those portions of the Kemper IGCC previously placed in service. In addition, if the parties approve an amendment to the APA incorporating the terms of the letter agreement but do not execute the amendment before December 31, 2014, the parties agreed to extend the current APA through December 31, 2015. | ||||||||||||
The closing of this transaction is also conditioned upon execution of a joint ownership and operating agreement incorporating the principles of the amended APA, the absence of material adverse effects, receipt of all construction permits, and appropriate regulatory approvals, as well as SMEPA's receipt of Rural Utilities Service (RUS) funding. In 2012, SMEPA received a conditional loan commitment from RUS for the purchase. | ||||||||||||
On October 9, 2014, Mississippi Power received an additional $50 million deposit from SMEPA to be applied to the purchase. | ||||||||||||
The ultimate outcome of these matters cannot be determined at this time. | ||||||||||||
Baseload Act | ||||||||||||
In 2008, the Baseload Act was signed by the Governor of Mississippi. The Baseload Act authorizes, but does not require, the Mississippi PSC to adopt a cost recovery mechanism that includes in retail base rates, prior to and during construction, all or a portion of the prudently-incurred pre-construction and construction costs incurred by a utility in constructing a base load electric generating plant. Prior to the passage of the Baseload Act, such costs would traditionally be recovered only after the plant was placed in service. The Baseload Act also provides for periodic prudence reviews by the Mississippi PSC and prohibits the cancellation of any such generating plant without the approval of the Mississippi PSC. In the event of cancellation of the construction of the plant without approval of the Mississippi PSC, the Baseload Act authorizes the Mississippi PSC to make a public interest determination as to whether and to what extent the utility will be afforded rate recovery for costs incurred in connection with such cancelled generating plant. There are legal challenges to the constitutionality of the Baseload Act currently pending before the Mississippi Supreme Court. The ultimate outcome of any legal challenges to this legislation cannot be determined at this time. See "Rate Recovery of Kemper IGCC Costs" herein for additional information. | ||||||||||||
Investment Tax Credits and Bonus Depreciation | ||||||||||||
The IRS allocated $279 million (Phase II) of Internal Revenue Code Section 48A tax credits to Mississippi Power in connection with the Kemper IGCC. Through September 30, 2014, Mississippi Power had recorded tax benefits totaling $276.4 million for the Phase II credits, of which approximately $140 million have been utilized through that date. These credits will be amortized as a reduction to depreciation and amortization over the life of the Kemper IGCC and are dependent upon meeting the IRS certification requirements, including an in-service date no later than April 19, 2016 and the capture and sequestration (via enhanced oil recovery) of at least 65% of the CO2 produced by the Kemper IGCC during operations in accordance with the Internal Revenue Code. A portion of the Phase II tax credits will be subject to recapture upon completion of SMEPA's purchase of an undivided interest in the Kemper IGCC as described above. | ||||||||||||
In January 2013, the ATRA was signed into law. The ATRA retroactively extended several tax credits through 2013 and extended 50% bonus depreciation for property placed in service in 2013 (and for certain long-term production-period projects to be placed in service in 2014), which will apply primarily to the combined cycle and associated common facilities portion of the Kemper IGCC that were placed in service on August 9, 2014. The estimated cash flow benefit is approximately $100 million. See "Rate Recovery of Kemper IGCC Costs – Seven-Year Rate Plan" herein for additional information. | ||||||||||||
The ultimate outcome of these matters cannot be determined at this time. | ||||||||||||
Other Matters | ||||||||||||
Sierra Club Settlement Agreement | ||||||||||||
On August 1, 2014, Mississippi Power entered into the Sierra Club Settlement Agreement that, among other things, requires the Sierra Club to dismiss or withdraw all pending legal and regulatory challenges of the Kemper IGCC and the scrubber project at Plant Daniel Units 1 and 2. In addition, the Sierra Club agreed to refrain from initiating, intervening in, and/or challenging certain legal and regulatory proceedings for the Kemper IGCC, including, but not limited to, the prudence review, and Plant Daniel for a period of three years from the date of the Sierra Club Settlement Agreement. On August 4, 2014, the Sierra Club filed all of the required motions necessary to dismiss or withdraw all appeals associated with certification of the Kemper IGCC and the Plant Daniel Units 1 and 2 scrubber project, which the applicable courts granted in the third quarter 2014. | ||||||||||||
Under the Sierra Club Settlement Agreement, Mississippi Power agreed to, among other things, fund a $15 million grant payable over a 15-year period for an energy efficiency and renewable program and contribute $2 million to a conservation fund. In accordance with the Sierra Club Settlement Agreement, Mississippi Power paid $7 million in the third quarter 2014, recognized in other income (expense), net in Southern Company's Statements of Income and Mississippi Power's Condensed Statements of Operations herein. In addition, and consistent with Mississippi Power's ongoing evaluation of recent environmental rules and regulations, Mississippi Power agreed to retire, repower with natural gas, or convert to an alternative non-fossil fuel source Plant Sweatt Units 1 and 2 (80 MWs) no later than December 2018. Mississippi Power also agreed that it would cease burning coal and other solid fuel at Plant Watson Units 4 and 5 (750 MWs) and begin operating those units solely on natural gas no later than April 2015, and cease burning coal and other solid fuel at Plant Greene County Units 1 and 2 (200 MWs) and begin operating those units solely on natural gas no later than April 2016. See "Retail Regulatory Matters – Mississippi Power – Environmental Compliance Overview Plan" herein for additional information. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||
FAIR VALUE MEASUREMENTS | |||||||||||||||||
As of September 30, 2014, assets and liabilities measured at fair value on a recurring basis during the period, together with the level of the fair value hierarchy in which they fall, were as follows: | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
As of September 30, 2014: | Quoted Prices | Significant | Significant | Total | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
(in millions) | |||||||||||||||||
Southern Company | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 12 | $ | — | $ | 12 | |||||||||
Nuclear decommissioning trusts(a) | 632 | 875 | 2 | 1,509 | |||||||||||||
Cash equivalents | 955 | — | — | 955 | |||||||||||||
Other investments | 9 | — | 1 | 10 | |||||||||||||
Total | $ | 1,596 | $ | 887 | $ | 3 | $ | 2,486 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 53 | $ | — | $ | 53 | |||||||||
Interest rate derivatives | — | 2 | — | 2 | |||||||||||||
Total | $ | — | $ | 55 | $ | — | $ | 55 | |||||||||
Alabama Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 5 | $ | — | $ | 5 | |||||||||
Nuclear decommissioning trusts(b) | |||||||||||||||||
Domestic equity | 399 | 78 | — | 477 | |||||||||||||
Foreign equity | 34 | 65 | — | 99 | |||||||||||||
U.S. Treasury and government agency securities | — | 34 | — | 34 | |||||||||||||
Corporate bonds | — | 98 | — | 98 | |||||||||||||
Mortgage and asset backed securities | — | 19 | — | 19 | |||||||||||||
Other | — | 8 | 2 | 10 | |||||||||||||
Cash equivalents | 543 | — | — | 543 | |||||||||||||
Total | $ | 976 | $ | 307 | $ | 2 | $ | 1,285 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 11 | $ | — | $ | 11 | |||||||||
Interest rate derivatives | — | 1 | — | 1 | |||||||||||||
Total | $ | — | $ | 12 | $ | — | $ | 12 | |||||||||
Fair Value Measurements Using | |||||||||||||||||
As of September 30, 2014: | Quoted Prices | Significant | Significant | Total | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
(in millions) | |||||||||||||||||
Georgia Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 1 | $ | — | $ | 1 | |||||||||
Nuclear decommissioning trusts(b) (c) | |||||||||||||||||
Domestic equity | 191 | 2 | — | 193 | |||||||||||||
Foreign equity | — | 132 | — | 132 | |||||||||||||
U.S. Treasury and government agency securities | — | 126 | — | 126 | |||||||||||||
Municipal bonds | — | 25 | — | 25 | |||||||||||||
Corporate bonds | — | 169 | — | 169 | |||||||||||||
Mortgage and asset backed securities | — | 114 | — | 114 | |||||||||||||
Other | 8 | 5 | — | 13 | |||||||||||||
Total | $ | 199 | $ | 574 | $ | — | $ | 773 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 12 | $ | — | $ | 12 | |||||||||
Gulf Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 3 | $ | — | $ | 3 | |||||||||
Cash equivalents | 18 | — | — | 18 | |||||||||||||
Total | $ | 18 | $ | 3 | $ | — | $ | 21 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 19 | $ | — | $ | 19 | |||||||||
Mississippi Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 2 | $ | — | $ | 2 | |||||||||
Cash equivalents | 45 | — | — | 45 | |||||||||||||
Total | $ | 45 | $ | 2 | $ | — | $ | 47 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 10 | $ | — | $ | 10 | |||||||||
Southern Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 1 | $ | — | $ | 1 | |||||||||
Cash equivalents | 80 | — | — | 80 | |||||||||||||
Total | $ | 80 | $ | 1 | $ | — | $ | 81 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 1 | $ | — | $ | 1 | |||||||||
(a) | For additional detail, see the nuclear decommissioning trusts sections for Alabama Power and Georgia Power in this table. | ||||||||||||||||
(b) | Excludes receivables related to investment income, pending investment sales, and payables related to pending investment purchases. | ||||||||||||||||
(c) | Includes the investment securities pledged to creditors and cash collateral received and excludes payables related to the securities lending program. As of September 30, 2014, approximately $58 million of the fair market value of Georgia Power's nuclear decommissioning trust funds' securities were on loan and pledged to creditors under the funds' managers' securities lending program. | ||||||||||||||||
Valuation Methodologies | |||||||||||||||||
The energy-related derivatives primarily consist of over-the-counter financial products for natural gas and physical power products including, from time to time, basis swaps. These are standard products used within the energy industry and are valued using the market approach. The inputs used are mainly from observable market sources, such as forward natural gas prices, power prices, implied volatility, and overnight index swap interest rates. Interest rate and foreign currency derivatives are also standard over-the-counter financial products valued using the market approach. Inputs for interest rate derivatives include LIBOR interest rates, interest rate futures contracts, and occasionally implied volatility of interest rate options. Inputs for foreign currency derivatives are from observable market sources. See Note (H) herein for additional information on how these derivatives are used. | |||||||||||||||||
For fair value measurements of investments within the nuclear decommissioning trusts, specifically the fixed income assets using significant other observable inputs and unobservable inputs, the primary valuation technique used is the market approach. External pricing vendors are designated for each of the asset classes in the nuclear decommissioning trusts with each security discriminately assigned a primary pricing source, based on similar characteristics. A market price secured from the primary source vendor is then evaluated by management in its valuation of the assets within the trusts. As a general approach, market pricing vendors gather market data (including indices and market research reports) and integrate relative credit information, observed market movements, and sector news into proprietary pricing models, pricing systems, and mathematical tools. Dealer quotes and other market information including live trading levels and pricing analysts' judgment are also obtained when available. Investments in private equity and real estate within the nuclear decommissioning trusts are generally classified as Level 3, as the underlying assets typically do not have observable inputs. The fund manager values these assets using various inputs and techniques depending on the nature of the underlying investments. The fair value of partnerships is determined by aggregating the value of the underlying assets. | |||||||||||||||||
"Other investments" include investments in funds that are valued using the market approach and income approach. Securities that are traded in the open market are valued at the closing price on their principal exchange as of the measurement date. For investments that are not traded in the open market, the price paid will have been determined based on market factors including comparable multiples and the expectations regarding cash flows and business plan execution. As the investments mature or if market conditions change materially, further analysis of the fair market value of the investment is performed. | |||||||||||||||||
As of September 30, 2014, the fair value measurements of investments calculated at net asset value per share (or its equivalent), as well as the nature and risks of those investments, were as follows: | |||||||||||||||||
As of September 30, 2014: | Fair | Unfunded | Redemption | Redemption | |||||||||||||
Value | Commitments | Frequency | Notice Period | ||||||||||||||
(in millions) | |||||||||||||||||
Southern Company | |||||||||||||||||
Nuclear decommissioning trusts: | |||||||||||||||||
Foreign equity funds | $ | 132 | None | Monthly | 5 days | ||||||||||||
Equity - commingled funds | 65 | None | Daily/Monthly | Daily/7 days | |||||||||||||
Other - commingled funds | 5 | None | Daily | Not applicable | |||||||||||||
Other - money market funds | 8 | None | Daily | Not applicable | |||||||||||||
Trust-owned life insurance | 112 | None | Daily | 15 days | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | 955 | None | Daily | Not applicable | |||||||||||||
Alabama Power | |||||||||||||||||
Nuclear decommissioning trusts: | |||||||||||||||||
Equity - commingled funds | $ | 65 | None | Daily/Monthly | Daily/7 days | ||||||||||||
Trust-owned life insurance | 112 | None | Daily | 15 days | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | 543 | None | Daily | Not applicable | |||||||||||||
Georgia Power | |||||||||||||||||
Nuclear decommissioning trusts: | |||||||||||||||||
Foreign equity funds | $ | 132 | None | Monthly | 5 days | ||||||||||||
Other - commingled funds | 5 | None | Daily | Not applicable | |||||||||||||
Other - money market funds | 8 | None | Daily | Not applicable | |||||||||||||
Gulf Power | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 18 | None | Daily | Not applicable | ||||||||||||
Mississippi Power | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 45 | None | Daily | Not applicable | ||||||||||||
Southern Power | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 80 | None | Daily | Not applicable | ||||||||||||
The NRC requires licensees of commissioned nuclear power reactors to establish a plan for providing reasonable assurance of funds for future decommissioning. Alabama Power and Georgia Power have external trust funds (the Funds) to comply with the NRC's regulations. The foreign equity fund in Georgia Power's nuclear decommissioning trusts seeks to provide long-term capital appreciation. In pursuing this investment objective, the foreign equity fund primarily invests in a diversified portfolio of equity securities of foreign companies, including those in emerging markets. These equity securities may include, but are not limited to, common stocks, preferred stocks, real estate investment trusts, convertible securities, depositary receipts, including American depositary receipts, European depositary receipts, and global depositary receipts, and rights and warrants to buy common stocks. Georgia Power may withdraw all or a portion of its investment on the last business day of each month subject to a minimum withdrawal of $1 million, provided that a minimum investment of $10 million remains. If notices of withdrawal exceed 20% of the aggregate value of the foreign equity fund, then the foreign equity fund's board may refuse to permit the withdrawal of all such investments and may scale down the amounts to be withdrawn pro rata and may further determine that any withdrawal that has been postponed will have priority on the subsequent withdrawal date. | |||||||||||||||||
The commingled funds in Georgia Power's nuclear decommissioning trusts are invested primarily in a diversified portfolio, including, but not limited to, commercial paper, notes, repurchase agreements, and other evidences of indebtedness with a maturity not exceeding 13 months from the date of purchase. The commingled funds will, however, generally maintain a dollar-weighted average portfolio maturity of 90 days or less. The assets may be longer term investment grade fixed income obligations with maturity shortening provisions. The primary objective for the commingled funds is a high level of current income consistent with stability of principal and liquidity. Included in commingled funds as of September 30, 2014 is $5 million representing the investment of cash collateral received under the Funds' managers' securities lending program that can only be sold upon the return of the loaned securities. The money market fund within Georgia Power's nuclear decommissioning trusts represents the short-term investment of the trusts' excess cash with the goal of providing the highest possible level of income while preserving capital and maintaining liquidity. The fund's positions are in high-quality, short-term, liquid money market instruments including, but not limited to, commercial paper, floating and variable rate demand notes, debt securities issued or guaranteed by the U.S. government and its agencies, time deposits, repurchase agreements, municipal obligations, and other high-quality, short-term debt securities. The fund maintains a dollar-weighted average maturity of 60 days or less and is regulated by, and subject to, the money market regulatory requirements set by the SEC. Redemptions are available on a same day basis up to the full amount of the investment in the fund. See Note 1 to the financial statements of Southern Company and Georgia Power under "Nuclear Decommissioning" in Item 8 of the Form 10-K for additional information. | |||||||||||||||||
Alabama Power's nuclear decommissioning trust includes investments in Trust-Owned Life Insurance (TOLI). The taxable nuclear decommissioning trust invests in the TOLI in order to minimize the impact of taxes on the portfolio and can draw on the value of the TOLI through death proceeds, loans against the cash surrender value, and/or the cash surrender value, subject to legal restrictions. The amounts reported in the table above reflect the fair value of investments the insurer has made in relation to the TOLI agreements. The nuclear decommissioning trust does not own the underlying investments, but the fair value of the investments approximates the cash surrender value of the TOLI policies. The investments made by the insurer are in commingled funds. The commingled funds primarily include investments in domestic and international equity securities and predominantly high-quality fixed income securities. These fixed income securities may include U.S. Treasury and government agency fixed income securities, non-U.S. government and agency fixed income securities, domestic and foreign corporate fixed income securities, and, to some degree, mortgage and asset backed securities. The passively managed funds seek to replicate the performance of a related index. The actively managed funds seek to exceed the performance of a related index through security analysis and selection. See Note 1 to the financial statements of Southern Company and Alabama Power under "Nuclear Decommissioning" in Item 8 of the Form 10-K for additional information. | |||||||||||||||||
Southern Company, Alabama Power, and Georgia Power continue to elect the option to fair value investment securities held in the nuclear decommissioning trust funds. For the three and nine months ended September 30, 2014, the change in fair value of the funds, including reinvested interest and dividends reduced by the funds' expenses, decreased by $13 million and increased by $70 million, respectively, at Southern Company. For the three and nine months ended September 30, 2014, Alabama Power recorded a decrease in fair value of $8 million and an increase of $39 million, respectively, as an increase in regulatory liabilities. Georgia Power recorded a decrease in fair value of $5 million and an increase of $31 million, respectively, as a reduction of its regulatory asset related to its ARO. | |||||||||||||||||
The money market funds are short-term investments of excess funds in various money market mutual funds, which are portfolios of short-term debt securities. The money market funds are regulated by the SEC and typically receive the highest rating from credit rating agencies. Regulatory and rating agency requirements for money market funds include minimum credit ratings and maximum maturities for individual securities and a maximum weighted average portfolio maturity. Redemptions are available on a same day basis up to the full amount of the investment in the money market funds. | |||||||||||||||||
As of September 30, 2014, other financial instruments for which the carrying amount did not equal fair value were as follows: | |||||||||||||||||
Carrying | Fair | ||||||||||||||||
Amount | Value | ||||||||||||||||
(in millions) | |||||||||||||||||
Long-term debt: | |||||||||||||||||
Southern Company | $ | 23,936 | $ | 25,318 | |||||||||||||
Alabama Power | $ | 6,625 | $ | 7,195 | |||||||||||||
Georgia Power | $ | 9,597 | $ | 10,167 | |||||||||||||
Gulf Power | $ | 1,444 | $ | 1,517 | |||||||||||||
Mississippi Power | $ | 2,365 | $ | 2,397 | |||||||||||||
Southern Power | $ | 1,629 | $ | 1,745 | |||||||||||||
The fair values are determined using Level 2 measurements and are based on quoted market prices for the same or similar issues or on the current rates offered to Southern Company, Alabama Power, Georgia Power, Gulf Power, Mississippi Power, and Southern Power. |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||
STOCKHOLDERS' EQUITY | ' | ||||||||||||||||||
STOCKHOLDERS' EQUITY | |||||||||||||||||||
Earnings per Share | |||||||||||||||||||
For Southern Company, the only difference in computing basic and diluted earnings per share is attributable to awards outstanding under the stock option and performance share plans. See Note 8 to the financial statements of Southern Company in Item 8 of the Form 10-K for information on the stock option and performance share plans. The effects of both stock options and performance share award units were determined using the treasury stock method. Shares used to compute diluted earnings per share were as follows: | |||||||||||||||||||
Three Months | Three Months | Nine Months | Nine Months | ||||||||||||||||
Ended | Ended | Ended | Ended | ||||||||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||||||||
(in millions) | |||||||||||||||||||
As reported shares | 898 | 878 | 894 | 874 | |||||||||||||||
Effect of options and performance share award units | 4 | 3 | 4 | 5 | |||||||||||||||
Diluted shares | 902 | 881 | 898 | 879 | |||||||||||||||
Stock options and performance share award units that were not included in the diluted earnings per share calculation because they were anti-dilutive were 16 million and 17 million for the three and nine months ended September 30, 2014, respectively, and were 16 million and 1 million for the three and nine months ended September 30, 2013. | |||||||||||||||||||
Changes in Stockholders' Equity | |||||||||||||||||||
The following table presents year-to-date changes in stockholders' equity of Southern Company: | |||||||||||||||||||
Number of | Common | Preferred and | Total | ||||||||||||||||
Common Shares | Stockholders' | Preference | Stockholders' | ||||||||||||||||
Equity | Stock of | Equity | |||||||||||||||||
Issued | Treasury | Subsidiaries | |||||||||||||||||
(in thousands) | (in millions) | ||||||||||||||||||
Balance at December 31, 2013 | 892,733 | (5,647 | ) | $ | 19,008 | $ | 756 | $ | 19,764 | ||||||||||
Net income after dividends on preferred and preference stock | — | — | 1,680 | — | 1,680 | ||||||||||||||
Other comprehensive income (loss) | — | — | 6 | — | 6 | ||||||||||||||
Treasury stock re-issued | — | 4,996 | 225 | — | 225 | ||||||||||||||
Stock issued | 7,781 | — | 332 | — | 332 | ||||||||||||||
Stock repurchased, at cost | — | — | (5 | ) | — | (5 | ) | ||||||||||||
Cash dividends on common stock | — | — | (1,390 | ) | — | (1,390 | ) | ||||||||||||
Other | — | (51 | ) | 1 | — | 1 | |||||||||||||
Balance at September 30, 2014 | 900,514 | (702 | ) | $ | 19,857 | $ | 756 | $ | 20,613 | ||||||||||
Balance at December 31, 2012 | 877,803 | (10,035 | ) | $ | 18,297 | $ | 707 | $ | 19,004 | ||||||||||
Net income after dividends on preferred and preference stock | — | — | 1,230 | — | 1,230 | ||||||||||||||
Other comprehensive income (loss) | — | — | 11 | — | 11 | ||||||||||||||
Treasury stock re-issued | — | 1,956 | 89 | — | 89 | ||||||||||||||
Stock issued | 12,046 | — | 484 | 49 | 533 | ||||||||||||||
Stock repurchased, at cost | — | — | (19 | ) | — | (19 | ) | ||||||||||||
Cash dividends on common stock | — | — | (1,314 | ) | — | (1,314 | ) | ||||||||||||
Other | — | (30 | ) | — | — | — | |||||||||||||
Balance at September 30, 2013 | 889,849 | (8,109 | ) | $ | 18,778 | $ | 756 | $ | 19,534 | ||||||||||
Financing
Financing | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
FINANCING | ' | ||||||||||||||||||||||||||||||||||||||||||||
FINANCING | |||||||||||||||||||||||||||||||||||||||||||||
Bank Credit Arrangements | |||||||||||||||||||||||||||||||||||||||||||||
Bank credit arrangements provide liquidity support to the registrants' commercial paper borrowings and the traditional operating companies' variable rate pollution control revenue bonds. The amount of variable rate pollution control revenue bonds requiring liquidity support as of September 30, 2014 was approximately $1.8 billion. In addition, at September 30, 2014, the traditional operating companies had $423 million of fixed rate pollution control revenue bonds that will be required to be remarketed within the next 12 months. See Note 6 to the financial statements of each registrant under "Bank Credit Arrangements" in Item 8 of the Form 10-K for additional information. In addition, $98 million of certain pollution control revenue bonds of Georgia Power have been reclassified to securities due within one year in anticipation of redemption in connection with unit retirement decisions. See Note 3 to the financial statements of Southern Company and Georgia Power under "Retail Regulatory Matters – Georgia Power – Integrated Resource Plans" and "Retail Regulatory Matters – Integrated Resource Plans," respectively, in Item 8 of the Form 10-K for additional information. | |||||||||||||||||||||||||||||||||||||||||||||
The following table outlines the committed credit arrangements by company as of September 30, 2014: | |||||||||||||||||||||||||||||||||||||||||||||
Expires | Executable Term | Due Within One | |||||||||||||||||||||||||||||||||||||||||||
Loans | Year | ||||||||||||||||||||||||||||||||||||||||||||
Company | 2014 | 2015 | 2016 | 2017 | 2018 | Total | Unused | One | Two | Term | No Term | ||||||||||||||||||||||||||||||||||
Year | Years | Out | Out | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||
Southern Company | $ | — | $ | — | $ | — | $ | — | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Alabama Power | 70 | 158 | 50 | — | 1,030 | 1,308 | 1,308 | 58 | — | 58 | 170 | ||||||||||||||||||||||||||||||||||
Georgia Power | — | — | 150 | — | 1,600 | 1,750 | 1,736 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Gulf Power | 20 | 60 | 165 | 30 | — | 275 | 275 | 50 | — | 50 | 30 | ||||||||||||||||||||||||||||||||||
Mississippi Power | 15 | 120 | 165 | — | — | 300 | 300 | 25 | 40 | 65 | 70 | ||||||||||||||||||||||||||||||||||
Southern Power | — | — | — | — | 500 | 500 | 499 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other | — | 70 | — | — | — | 70 | 70 | 20 | — | 20 | 50 | ||||||||||||||||||||||||||||||||||
Total | $ | 105 | $ | 408 | $ | 530 | $ | 30 | $ | 4,130 | $ | 5,203 | $ | 5,188 | $ | 153 | $ | 40 | $ | 193 | $ | 320 | |||||||||||||||||||||||
Southern Company and its subsidiaries expect to renew their credit arrangements as needed, prior to expiration. | |||||||||||||||||||||||||||||||||||||||||||||
Financing Activities | |||||||||||||||||||||||||||||||||||||||||||||
The following table outlines the long-term debt financing activities for Southern Company and its subsidiaries for the first nine months of 2014: | |||||||||||||||||||||||||||||||||||||||||||||
Company | Senior Note Issuances | Senior | Revenue | Revenue | Other | Other | |||||||||||||||||||||||||||||||||||||||
Note Maturities | Bond | Bond | Long-Term | Long-Term | |||||||||||||||||||||||||||||||||||||||||
Issuances and | Redemptions | Debt | Debt | ||||||||||||||||||||||||||||||||||||||||||
Remarketings | Issuances | Redemptions(b) | |||||||||||||||||||||||||||||||||||||||||||
of Purchased | |||||||||||||||||||||||||||||||||||||||||||||
Bonds(a) | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Southern Company | $ | 750 | $ | 350 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||
Alabama Power | 400 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Georgia Power | — | — | 40 | 37 | 1,000 | 4 | |||||||||||||||||||||||||||||||||||||||
Gulf Power | 200 | — | 42 | 29 | — | — | |||||||||||||||||||||||||||||||||||||||
Mississippi Power | — | — | — | — | 493 | 222 | |||||||||||||||||||||||||||||||||||||||
Southern Power | — | — | — | — | 10 | 1 | |||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | 15 | |||||||||||||||||||||||||||||||||||||||
Elimination(c) | — | — | — | — | (220 | ) | (220 | ) | |||||||||||||||||||||||||||||||||||||
Total | $ | 1,350 | $ | 350 | $ | 82 | $ | 66 | $ | 1,283 | $ | 22 | |||||||||||||||||||||||||||||||||
(a) | Includes remarketing by Gulf Power of $13 million aggregate principal amount of revenue bonds previously purchased and held by Gulf Power since December 2013 and remarketing by Georgia Power of $40 million aggregate principal amount of revenue bonds previously purchased and held by Georgia Power since 2010. | ||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes reductions in capital lease obligations resulting from cash payments under capital leases. | ||||||||||||||||||||||||||||||||||||||||||||
(c) | Intercompany loan from Southern Company to Mississippi Power eliminated in Southern Company's Condensed Consolidated Financial Statements. This loan was repaid on September 29, 2014. | ||||||||||||||||||||||||||||||||||||||||||||
Southern Company | |||||||||||||||||||||||||||||||||||||||||||||
In August 2014, Southern Company issued $400 million aggregate principal amount of Series 2014A 1.30% Senior Notes due August 15, 2017 and $350 million aggregate principal amount of Series 2014B 2.15% Senior Notes due September 1, 2019. The proceeds were used to pay a portion of Southern Company's outstanding short-term indebtedness and for other general corporate purposes. | |||||||||||||||||||||||||||||||||||||||||||||
Alabama Power | |||||||||||||||||||||||||||||||||||||||||||||
In August 2014, Alabama Power issued $400 million aggregate principal amount of Series 2014A 4.150% Senior Notes due August 15, 2044. The proceeds were used for general corporate purposes, including Alabama Power's continuous construction program. | |||||||||||||||||||||||||||||||||||||||||||||
Georgia Power | |||||||||||||||||||||||||||||||||||||||||||||
Pursuant to the loan guarantee program established under Title XVII of the Energy Policy Act of 2005, Georgia Power and the DOE entered into a loan guarantee agreement (Loan Guarantee Agreement) on February 20, 2014, under which the DOE agreed to guarantee the obligations of Georgia Power under a note purchase agreement (FFB Note Purchase Agreement) among the DOE, Georgia Power, and the FFB and a related promissory note (FFB Promissory Note). Georgia Power is obligated to reimburse the DOE for any payments the DOE is required to make to the FFB under the guarantee. | |||||||||||||||||||||||||||||||||||||||||||||
The FFB Note Purchase Agreement and the FFB Promissory Note provide for a multi-advance term loan facility (FFB Credit Facility), under which Georgia Power may make term loan borrowings through the FFB. On February 20, 2014, Georgia Power made initial borrowings under the FFB Credit Facility in an aggregate principal amount of $1.0 billion. Georgia Power's reimbursement obligations to the DOE are full recourse and also secured by a first priority lien on (i) Georgia Power's 45.7% undivided ownership interest in Plant Vogtle Units 3 and 4 (primarily the units under construction, the related real property, and any nuclear fuel loaded in the reactor core) and (ii) Georgia Power's rights and obligations under the principal contracts relating to Plant Vogtle Units 3 and 4. The interest rate applicable to $500 million of the initial advance under the FFB Credit Facility is 3.860% for an interest period that extends to 2044 and the interest rate applicable to the remaining $500 million is 3.488% for an interest period that extends to 2029, and is expected to be reset from time to time thereafter through 2044. In connection with its entry into the agreements with the DOE and the FFB, Georgia Power incurred issuance costs of approximately $66 million, which will be amortized over the life of the borrowings under the FFB Credit Facility. | |||||||||||||||||||||||||||||||||||||||||||||
See Note 6 to the financial statements of Southern Company and Georgia Power in Item 8 of the Form 10-K under "DOE Loan Guarantee Borrowings" for additional information. | |||||||||||||||||||||||||||||||||||||||||||||
In July 2014, Georgia Power reoffered to the public $40 million aggregate principal amount of Development Authority of Monroe County (Georgia) Pollution Control Revenue Bonds (Georgia Power Company Plant Scherer Project), First Series 2009, which had been previously purchased and held by Georgia Power since 2010. | |||||||||||||||||||||||||||||||||||||||||||||
Gulf Power | |||||||||||||||||||||||||||||||||||||||||||||
In April 2014, Gulf Power executed a loan agreement with Mississippi Business Finance Corporation (MBFC) related to MBFC's issuance of $29.075 million aggregate principal amount of Pollution Control Revenue Refunding Bonds, First Series 2014 (Gulf Power Company Project) due April 1, 2044 for the benefit of Gulf Power. The proceeds were used to redeem $29.075 million aggregate principal amount of MBFC Pollution Control Revenue Refunding Bonds, Series 2003 (Gulf Power Company Project). | |||||||||||||||||||||||||||||||||||||||||||||
In June 2014, Gulf Power reoffered to the public $13 million aggregate principal amount of MBFC Solid Waste Disposal Facilities Revenue Refunding Bonds, Series 2012 (Gulf Power Company Project), which had been previously purchased and held by Gulf Power since December 2013. | |||||||||||||||||||||||||||||||||||||||||||||
In September 2014, Gulf Power issued $200 million aggregate principal amount of Series 2014A 4.55% Senior Notes due October 1, 2044. The proceeds were used to repay a portion of its outstanding short-term indebtedness, for general corporate purposes, including Gulf Power's continuous construction program, and subsequent to September 30, 2014, for repayment at maturity $75 million aggregate principal amount of Gulf Power's Series K 4.90% Senior Notes due October 1, 2014. | |||||||||||||||||||||||||||||||||||||||||||||
Mississippi Power | |||||||||||||||||||||||||||||||||||||||||||||
In January 2014, Mississippi Power entered into an 18-month floating rate bank loan bearing interest based on one-month LIBOR. The term loan was for $250 million aggregate principal amount, and proceeds were used for working capital and other general corporate purposes, including Mississippi Power's continuous construction program. | |||||||||||||||||||||||||||||||||||||||||||||
In January 2014 and subsequent to September 30, 2014, Mississippi Power received an additional $75 million and $50 million, respectively, of interest-bearing refundable deposits from SMEPA to be applied to the sale price for the pending sale of an undivided interest in the Kemper IGCC. See Note 3 to the financial statements of Southern Company and Mississippi Power in Item 8 of the Form 10-K under "Integrated Coal Gasification Combined Cycle – Proposed Sale of Undivided Interest to SMEPA" for additional information. | |||||||||||||||||||||||||||||||||||||||||||||
As reflected in the table above in "Other Long-Term Debt Issuances," in May 2014, Mississippi Power issued a 19-month floating rate promissory note to Southern Company for a loan bearing interest based on one-month LIBOR. This loan was for $220 million aggregate principal amount and the proceeds were used for working capital and other general corporate purposes, including Mississippi Power's construction program. This loan was repaid on September 29, 2014. | |||||||||||||||||||||||||||||||||||||||||||||
In May 2014 and August 2014, the MBFC issued $12.3 million and $10.5 million, respectively, aggregate principal amount of MBFC Taxable Revenue Bonds (Mississippi Power Company Project), Series 2013A for the benefit of Mississippi Power and proceeds were used to reimburse Mississippi Power for the cost of the acquisition, construction, equipping, installation, and improvement of certain equipment and facilities for the lignite mining facility related to the Kemper IGCC. Any future issuances of the Series 2013A bonds will be used for this same purpose. | |||||||||||||||||||||||||||||||||||||||||||||
Southern Power | |||||||||||||||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2014, Southern Power prepaid $0.8 million of long-term debt payable to Turner Renewable Energy, LLC (TRE) and issued $3.9 million due April 30, 2034, $5.3 million due May 31, 2034, $0.8 million due April 30, 2033, and an additional $0.1 million due June 15, 2032 under promissory notes payable to TRE related to the financing of Adobe Solar, LLC (Adobe), Macho Springs Solar, LLC (Macho Springs), Campo Verde Solar, LLC, and Apex Nevada Solar, LLC, respectively. |
Retirement_Benefits
Retirement Benefits | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||
RETIREMENT BENEFITS | ' | ||||||||||||||||||||
RETIREMENT BENEFITS | |||||||||||||||||||||
Southern Company has a defined benefit, trusteed, pension plan covering substantially all employees. The qualified pension plan is funded in accordance with requirements of the Employee Retirement Income Security Act of 1974, as amended. No mandatory contributions to the qualified pension plan are anticipated for the year ending December 31, 2014. Southern Company also provides certain defined benefit pension plans for a selected group of management and highly compensated employees. Benefits under these non-qualified pension plans are funded on a cash basis. In addition, Southern Company provides certain medical care and life insurance benefits for retired employees through other postretirement benefit plans. The traditional operating companies fund related other postretirement trusts to the extent required by their respective regulatory commissions. | |||||||||||||||||||||
See Note 2 to the financial statements of Southern Company, Alabama Power, Georgia Power, Gulf Power, and Mississippi Power in Item 8 of the Form 10-K for additional information. | |||||||||||||||||||||
Components of the net periodic benefit costs for the three and nine months ended September 30, 2014 and 2013 were as follows: | |||||||||||||||||||||
Pension Plans | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||
Company | Power | Power | Power | Power | |||||||||||||||||
(in millions) | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 53 | $ | 12 | $ | 16 | $ | 4 | $ | 3 | |||||||||||
Interest cost | 109 | 26 | 39 | 4 | 5 | ||||||||||||||||
Expected return on plan assets | (161 | ) | (42 | ) | (57 | ) | (7 | ) | (8 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 6 | 2 | 2 | — | — | ||||||||||||||||
Net (gain)/loss | 28 | 7 | 10 | 1 | 2 | ||||||||||||||||
Net cost | $ | 35 | $ | 5 | $ | 10 | $ | 2 | $ | 2 | |||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 160 | $ | 36 | $ | 47 | $ | 8 | $ | 8 | |||||||||||
Interest cost | 326 | 78 | 115 | 14 | 15 | ||||||||||||||||
Expected return on plan assets | (484 | ) | (126 | ) | (170 | ) | (21 | ) | (22 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 19 | 5 | 7 | 1 | 1 | ||||||||||||||||
Net (gain)/loss | 83 | 23 | 30 | 3 | 4 | ||||||||||||||||
Net cost | $ | 104 | $ | 16 | $ | 29 | $ | 5 | $ | 6 | |||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 58 | $ | 12 | $ | 17 | $ | 3 | $ | 3 | |||||||||||
Interest cost | 97 | 23 | 35 | 4 | 5 | ||||||||||||||||
Expected return on plan assets | (151 | ) | (39 | ) | (54 | ) | (6 | ) | (7 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 7 | 2 | 3 | — | 1 | ||||||||||||||||
Net (gain)/loss | 50 | 13 | 19 | 2 | 2 | ||||||||||||||||
Net cost | $ | 61 | $ | 11 | $ | 20 | $ | 3 | $ | 4 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 174 | $ | 39 | $ | 52 | $ | 8 | $ | 8 | |||||||||||
Interest cost | 291 | 69 | 104 | 13 | 14 | ||||||||||||||||
Expected return on plan assets | (452 | ) | (117 | ) | (160 | ) | (19 | ) | (20 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 20 | 5 | 8 | 1 | 1 | ||||||||||||||||
Net (gain)/loss | 150 | 39 | 56 | 6 | 7 | ||||||||||||||||
Net cost | $ | 183 | $ | 35 | $ | 60 | $ | 9 | $ | 10 | |||||||||||
Postretirement Benefits | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||
Company | Power | Power | Power | Power | |||||||||||||||||
(in millions) | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 5 | $ | 1 | $ | 2 | $ | — | $ | — | |||||||||||
Interest cost | 19 | 5 | 9 | — | — | ||||||||||||||||
Expected return on plan assets | (14 | ) | (6 | ) | (6 | ) | — | — | |||||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 1 | 1 | — | — | — | ||||||||||||||||
Net (gain)/loss | 1 | — | — | — | — | ||||||||||||||||
Net cost | $ | 12 | $ | 1 | $ | 5 | $ | — | $ | — | |||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 16 | $ | 4 | $ | 5 | $ | 1 | $ | 1 | |||||||||||
Interest cost | 59 | 15 | 26 | 2 | 2 | ||||||||||||||||
Expected return on plan assets | (44 | ) | (19 | ) | (19 | ) | (1 | ) | (1 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 3 | 3 | — | — | — | ||||||||||||||||
Net (gain)/loss | 2 | — | 1 | — | — | ||||||||||||||||
Net cost | $ | 36 | $ | 3 | $ | 13 | $ | 2 | $ | 2 | |||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 6 | $ | 2 | $ | 3 | $ | — | $ | — | |||||||||||
Interest cost | 18 | 5 | 8 | 1 | 1 | ||||||||||||||||
Expected return on plan assets | (14 | ) | (6 | ) | (7 | ) | (1 | ) | — | ||||||||||||
Amortization: | |||||||||||||||||||||
Transition obligation | 2 | — | 1 | — | — | ||||||||||||||||
Prior service costs | 1 | 1 | — | — | — | ||||||||||||||||
Net (gain)/loss | 3 | — | 2 | — | — | ||||||||||||||||
Net cost | $ | 16 | $ | 2 | $ | 7 | $ | — | $ | 1 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 18 | $ | 5 | $ | 6 | $ | 1 | $ | 1 | |||||||||||
Interest cost | 55 | 14 | 24 | 2 | 3 | ||||||||||||||||
Expected return on plan assets | (42 | ) | (18 | ) | (19 | ) | (1 | ) | (1 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Transition obligation | 4 | — | 3 | — | — | ||||||||||||||||
Prior service costs | 3 | 3 | — | — | — | ||||||||||||||||
Net (gain)/loss | 9 | 1 | 6 | — | — | ||||||||||||||||
Net cost | $ | 47 | $ | 5 | $ | 20 | $ | 2 | $ | 3 | |||||||||||
Effective_Tax_Rate_and_Unrecog
Effective Tax Rate and Unrecognized Tax Benefits | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
EFFECTIVE TAX RATE AND UNRECOGNIZED TAX BENEFITS | ' |
EFFECTIVE TAX RATE AND UNRECOGNIZED TAX BENEFITS | |
Effective Tax Rate | |
See Note 5 to the financial statements of each registrant in Item 8 of the Form 10-K for additional tax information. | |
Southern Company | |
Southern Company's effective tax rate is typically lower than the statutory rate due to its employee stock plans' dividend deduction and non-taxable AFUDC equity. | |
Southern Company's effective tax rate was 33.9% for the nine months ended September 30, 2014 compared to 33.9% for the corresponding period in 2013. The effective tax rate was impacted by the offsetting increases resulting from higher net income and less benefit related to investment tax credits, and decreases resulting from more non-taxable AFUDC equity, changes in state apportionment, and beneficial changes in certain state income tax laws. | |
Alabama Power | |
Alabama Power's effective tax rate was 39.0% for the nine months ended September 30, 2014 compared to 39.3% for the corresponding period in 2013. | |
Georgia Power | |
Georgia Power's effective tax rate was 37.2% for the nine months ended September 30, 2014 compared to 38.0% for the corresponding period in 2013. | |
Gulf Power | |
Gulf Power's effective tax rate was 37.4% for the nine months ended September 30, 2014 compared to 37.6% for the corresponding period in 2013. | |
Mississippi Power | |
Mississippi Power's effective tax rate was (45.5)% for the nine months ended September 30, 2014 compared to (42.1)% for the corresponding period in 2013. The change in the tax benefit was primarily due to an increase in non-taxable AFUDC equity related to the construction of the Kemper IGCC, partially offset by a lower net loss for the current period compared to the corresponding period in 2013. | |
Southern Power | |
Southern Power's effective tax rate was 14.4% for the nine months ended September 30, 2014 compared to 20.5% for the corresponding period in 2013. The decrease was primarily due to the impact of state apportionment changes which reduced Southern Power's deferred tax liabilities, a change in filing method for North Carolina income tax, an increase in state income tax credits, and beneficial changes in certain state income tax laws. The decrease was partially offset by less federal income tax benefit related to investment tax credits in the current year. | |
Unrecognized Tax Benefits | |
For the 2013 tax year, Southern Company included in its consolidated federal income tax return a deduction for R&E expenditures related to the Kemper IGCC. The Kemper IGCC is based on first-of-a-kind technology, and Mississippi Power and Southern Company believe that a significant portion of the plant costs qualify as deductible R&E under Internal Revenue Code Section 174. The IRS is currently reviewing the underlying support for the deduction, but has not completed its audit of these expenditures. Due to the uncertainty related to this tax position, Mississippi Power and Southern Company recorded an unrecognized tax benefit of approximately $100 million and associated interest of $2 million as of September 30, 2014. | |
The ultimate outcome of this matter cannot be determined at this time. |
Derivatives
Derivatives | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
DERIVATIVES | ' | ||||||||||||||||||||||||
DERIVATIVES | |||||||||||||||||||||||||
Southern Company, the traditional operating companies, and Southern Power are exposed to market risks, primarily commodity price risk, interest rate risk, and occasionally foreign currency risk. To manage the volatility attributable to these exposures, each company nets its exposures, where possible, to take advantage of natural offsets and enters into various derivative transactions for the remaining exposures pursuant to each company's policies in areas such as counterparty exposure and risk management practices. Each company's policy is that derivatives are to be used primarily for hedging purposes and mandates strict adherence to all applicable risk management policies. Derivative positions are monitored using techniques including, but not limited to, market valuation, value at risk, stress testing, and sensitivity analysis. Derivative instruments are recognized at fair value in the balance sheets as either assets or liabilities and are presented on a gross basis. See Note (C) herein for additional information. In the statements of cash flows, the cash impacts of settled energy-related and interest rate derivatives are recorded as operating activities and the cash impacts of settled foreign currency derivatives are recorded as investing activities. | |||||||||||||||||||||||||
Energy-Related Derivatives | |||||||||||||||||||||||||
The traditional operating companies and Southern Power enter into energy-related derivatives to hedge exposures to electricity, gas, and other fuel price changes. However, due to cost-based rate regulations and other various cost recovery mechanisms, the traditional operating companies have limited exposure to market volatility in commodity fuel prices and prices of electricity. Each of the traditional operating companies manages fuel-hedging programs, implemented per the guidelines of their respective state PSCs, through the use of financial derivative contracts, which is expected to continue to mitigate price volatility. The traditional operating companies (with respect to wholesale generating capacity) and Southern Power have limited exposure to market volatility in commodity fuel prices and prices of electricity because their long-term sales contracts shift substantially all fuel cost responsibility to the purchaser. However, Southern Power has been and may continue to be exposed to market volatility in energy-related commodity prices as a result of sales from its uncontracted generating capacity. Further, the traditional operating companies may be exposed to market volatility in energy-related commodity prices to the extent any uncontracted wholesale generating capacity is used to sell electricity. | |||||||||||||||||||||||||
To mitigate residual risks relative to movements in electricity prices, the traditional operating companies and Southern Power may enter into physical fixed-price contracts for the purchase and sale of electricity through the wholesale electricity market. To mitigate residual risks relative to movements in gas prices, the traditional operating companies and Southern Power may enter into fixed-price contracts for natural gas purchases; however, a significant portion of contracts are priced at market. | |||||||||||||||||||||||||
Energy-related derivative contracts are accounted for under one of three methods: | |||||||||||||||||||||||||
• | Regulatory Hedges — Energy-related derivative contracts which are designated as regulatory hedges relate primarily to the traditional operating companies' fuel-hedging programs, where gains and losses are initially recorded as regulatory liabilities and assets, respectively, and then are included in fuel expense as the underlying fuel is used in operations and ultimately recovered through the respective fuel cost recovery clauses. | ||||||||||||||||||||||||
• | Cash Flow Hedges — Gains and losses on energy-related derivatives designated as cash flow hedges which are mainly used to hedge anticipated purchases and sales and are initially deferred in OCI before being recognized in the statements of income in the same period as the hedged transactions are reflected in earnings. | ||||||||||||||||||||||||
• | Not Designated — Gains and losses on energy-related derivative contracts that are not designated or fail to qualify as hedges are recognized in the statements of income as incurred. | ||||||||||||||||||||||||
Some energy-related derivative contracts require physical delivery as opposed to financial settlement, and this type of derivative is both common and prevalent within the electric industry. When an energy-related derivative contract is settled physically, any cumulative unrealized gain or loss is reversed and the contract price is recognized in the respective line item representing the actual price of the underlying goods being delivered. | |||||||||||||||||||||||||
At September 30, 2014, the net volume of energy-related derivative contracts for natural gas positions for the Southern Company system, together with the longest hedge date over which the respective entity is hedging its exposure to the variability in future cash flows for forecasted transactions and the longest non-hedge date for derivatives not designated as hedges, were as follows: | |||||||||||||||||||||||||
Net | Longest | Longest | |||||||||||||||||||||||
Purchased | Hedge | Non-Hedge | |||||||||||||||||||||||
mmBtu | Date | Date | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Southern Company | 232 | 2018 | 2017 | ||||||||||||||||||||||
Alabama Power | 57 | 2017 | — | ||||||||||||||||||||||
Georgia Power | 47 | 2017 | — | ||||||||||||||||||||||
Gulf Power | 77 | 2018 | — | ||||||||||||||||||||||
Mississippi Power | 49 | 2017 | — | ||||||||||||||||||||||
Southern Power | 2 | — | 2017 | ||||||||||||||||||||||
In addition to the volumes discussed in the above table, the traditional operating companies and Southern Power enter into physical natural gas supply contracts that provide the option to sell back excess gas due to operational constraints. The maximum expected volume of natural gas subject to such a feature is 7 million mmBtu for Southern Company, 1 million mmBtu for Alabama Power, 4 million mmBtu for Georgia Power, and 1 million mmBtu for Southern Power. | |||||||||||||||||||||||||
For cash flow hedges, the amounts expected to be reclassified from accumulated OCI to earnings for the next 12-month period ending September 30, 2015 are immaterial for all registrants. | |||||||||||||||||||||||||
Interest Rate Derivatives | |||||||||||||||||||||||||
Southern Company and certain subsidiaries may also enter into interest rate derivatives to hedge exposure to changes in interest rates. The derivatives employed as hedging instruments are structured to minimize ineffectiveness. Derivatives related to existing variable rate securities or forecasted transactions are accounted for as cash flow hedges where the effective portion of the derivatives' fair value gains or losses is recorded in OCI and is reclassified into earnings at the same time the hedged transactions affect earnings, with any ineffectiveness recorded directly to earnings. Derivatives related to existing fixed rate securities are accounted for as fair value hedges, where the derivatives' fair value gains or losses and hedged items' fair value gains or losses are both recorded directly to earnings, providing an offset, with any difference representing ineffectiveness. | |||||||||||||||||||||||||
At September 30, 2014, the following interest rate derivatives were outstanding: | |||||||||||||||||||||||||
Notional | Interest | Weighted | Hedge | Fair Value | |||||||||||||||||||||
Amount | Rate | Average | Maturity | Gain (Loss) | |||||||||||||||||||||
Received | Interest | Date | September 30, | ||||||||||||||||||||||
Rate Paid | 2014 | ||||||||||||||||||||||||
(in millions) | (in millions) | ||||||||||||||||||||||||
Cash flow hedges of forecasted debt | |||||||||||||||||||||||||
Alabama Power | $ | 100 | 3-month | 3.07% | Oct-25 | $ | (1 | ) | |||||||||||||||||
LIBOR | |||||||||||||||||||||||||
Fair value hedges on existing debt | |||||||||||||||||||||||||
Southern Company | 250 | 1.30% | 3-month | Aug-17 | (1 | ) | |||||||||||||||||||
LIBOR + 0.17% | |||||||||||||||||||||||||
Total | $ | 350 | $ | (2 | ) | ||||||||||||||||||||
Subsequent to September 30, 2014, Alabama Power entered into forward-starting interest rate swaps to hedge exposure to interest rate changes related to an anticipated debt issuance. The notional amount of the swaps totaled $100 million. | |||||||||||||||||||||||||
Subsequent to September 30, 2014, Georgia Power entered into interest rate swaps to hedge exposure to interest rate changes related to existing debt. The notional amounts of the swaps totaled $900 million. | |||||||||||||||||||||||||
The estimated pre-tax gains (losses) that will be reclassified from accumulated OCI to interest expense for the next 12-month period ending September 30, 2015 are immaterial for all registrants. Southern Company and certain subsidiaries have deferred gains and losses that are expected to be amortized into earnings through 2037. | |||||||||||||||||||||||||
Foreign Currency Derivatives | |||||||||||||||||||||||||
Southern Company and certain subsidiaries may enter into foreign currency derivatives to hedge exposure to changes in foreign currency exchange rates arising from purchases of equipment denominated in a currency other than U.S. dollars. Derivatives related to a firm commitment in a foreign currency transaction are accounted for as fair value hedges where the derivatives' fair value gains or losses and the hedged items' fair value gains or losses are both recorded directly to earnings. Derivatives related to a forecasted transaction are accounted for as cash flow hedges where the effective portion of the derivatives' fair value gains or losses is recorded in OCI and is reclassified into earnings at the same time the hedged transactions affect earnings. The derivatives employed as hedging instruments are structured to minimize ineffectiveness. Any ineffectiveness is recorded directly to earnings; however, Mississippi Power has regulatory approval allowing it to defer any ineffectiveness associated with firm commitments related to the Kemper IGCC to a regulatory asset. | |||||||||||||||||||||||||
At September 30, 2014, there were no foreign currency derivatives outstanding. | |||||||||||||||||||||||||
Derivative Financial Statement Presentation and Amounts | |||||||||||||||||||||||||
At September 30, 2014, the fair value of energy-related derivatives (excluding regulatory hedges) was immaterial. At September 30, 2014, the fair value of energy-related derivatives designated as hedging instruments for regulatory purposes and interest rate derivatives was reflected in the balance sheets as follows: | |||||||||||||||||||||||||
Asset Derivatives at September 30, 2014 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and Balance Sheet Location | Southern | Alabama | Georgia | Gulf | Mississippi | Southern | |||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 9 | $ | 4 | $ | 1 | $ | 2 | $ | 2 | |||||||||||||||
Other deferred charges and assets | 2 | 1 | — | 1 | — | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 11 | $ | 5 | $ | 1 | $ | 3 | $ | 2 | N/A | ||||||||||||||
Derivatives designated as hedging instruments in cash flow and fair value hedges | |||||||||||||||||||||||||
Interest rate derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 2 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Total asset derivatives | $ | 13 | $ | 5 | $ | 1 | $ | 3 | $ | 2 | $ | — | |||||||||||||
Liability Derivatives at September 30, 2014 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and | Southern | Alabama | Georgia | Gulf | Mississippi | Southern | |||||||||||||||||||
Balance Sheet Location | Company | Power | Power | Power | Power | Power | |||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Liabilities from risk management activities (a) | $ | 27 | $ | 5 | $ | 10 | $ | 7 | $ | 5 | |||||||||||||||
Other deferred credits and liabilities | 25 | 6 | 2 | 12 | 5 | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 52 | $ | 11 | $ | 12 | $ | 19 | $ | 10 | N/A | ||||||||||||||
Derivatives designated as hedging instruments in cash flow and fair value hedges | |||||||||||||||||||||||||
Interest rate derivatives: | |||||||||||||||||||||||||
Other deferred credits and liabilities | $ | 4 | $ | 1 | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Total liability derivatives | $ | 56 | $ | 12 | $ | 12 | $ | 19 | $ | 10 | $ | — | |||||||||||||
(a) | Georgia Power includes liabilities from risk management activities in other current liabilities. | ||||||||||||||||||||||||
At December 31, 2013, the fair value of energy-related derivatives and interest rate derivatives was reflected in the balance sheets as follows: | |||||||||||||||||||||||||
Asset Derivatives at December 31, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and Balance Sheet Location | Southern | Alabama | Georgia | Gulf | Mississippi | Southern | |||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 16 | $ | 5 | $ | 3 | $ | 5 | $ | 3 | |||||||||||||||
Other deferred charges and assets | 7 | 2 | 2 | 2 | 2 | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 23 | $ | 7 | $ | 5 | $ | 7 | $ | 5 | N/A | ||||||||||||||
Derivatives designated as hedging instruments in cash flow and fair value hedges | |||||||||||||||||||||||||
Interest rate derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 3 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other deferred charges and assets | 1 | — | — | — | — | 1 | |||||||||||||||||||
Total asset derivatives | $ | 27 | $ | 7 | $ | 5 | $ | 7 | $ | 5 | $ | 1 | |||||||||||||
Liability Derivatives at December 31, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and | Southern | Alabama | Georgia | Gulf | Mississippi | Southern Power | |||||||||||||||||||
Balance Sheet Location | Company | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Liabilities from risk management activities (a) | $ | 26 | $ | 3 | $ | 13 | $ | 6 | $ | 4 | |||||||||||||||
Other deferred credits and liabilities | 29 | 5 | 8 | 11 | 6 | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 55 | $ | 8 | $ | 21 | $ | 17 | $ | 10 | N/A | ||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Liabilities from risk management activities | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | 1 | |||||||||||||
Total liability derivatives | $ | 56 | $ | 8 | $ | 21 | $ | 17 | $ | 10 | $ | 1 | |||||||||||||
(a) Georgia Power includes liabilities from risk management activities in other current liabilities. | |||||||||||||||||||||||||
The derivative contracts of Southern Company, the traditional operating companies, and Southern Power are not subject to master netting arrangements or similar agreements and are reported gross on each registrant's financial statements. Some of these energy-related and interest rate derivative contracts may contain certain provisions that permit intra-contract netting of derivative receivables and payables for routine billing and offsets related to events of default and settlements. Amounts related to energy-related derivative contracts at September 30, 2014 and December 31, 2013 are presented in the following tables. Interest rate derivatives presented in the tables above do not have amounts available for offset and are therefore excluded from the offsetting disclosure tables below. | |||||||||||||||||||||||||
Derivative Contracts at September 30, 2014 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Southern | Alabama | Georgia | Gulf | Mississippi | Southern | ||||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 12 | $ | 5 | $ | 1 | $ | 3 | $ | 2 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (11 | ) | (4 | ) | (1 | ) | (3 | ) | (2 | ) | — | ||||||||||||||
Net energy-related derivative assets | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | $ | 1 | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 53 | $ | 11 | $ | 12 | $ | 19 | $ | 10 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (11 | ) | (4 | ) | (1 | ) | (3 | ) | (2 | ) | — | ||||||||||||||
Net energy-related derivative liabilities | $ | 42 | $ | 7 | $ | 11 | $ | 16 | $ | 8 | $ | 1 | |||||||||||||
(a) None of the registrants offset fair value amounts for multiple derivative instruments executed with the same counterparty on the balance sheets; therefore, gross and net amounts of derivative assets and liabilities presented on the balance sheets are the same. | |||||||||||||||||||||||||
(b) Includes gross amounts subject to netting terms that are not offset on the balance sheets and any cash/financial collateral pledged or received. | |||||||||||||||||||||||||
Derivative Contracts at December 31, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Southern | Alabama | Georgia | Gulf | Mississippi | Southern | ||||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 24 | $ | 7 | $ | 5 | $ | 7 | $ | 5 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (22 | ) | (5 | ) | (5 | ) | (6 | ) | (4 | ) | — | ||||||||||||||
Net energy-related derivative assets | $ | 2 | $ | 2 | $ | — | $ | 1 | $ | 1 | $ | 1 | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 56 | $ | 8 | $ | 21 | $ | 17 | $ | 10 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (22 | ) | (5 | ) | (5 | ) | (6 | ) | (4 | ) | — | ||||||||||||||
Net energy-related derivative liabilities | $ | 34 | $ | 3 | $ | 16 | $ | 11 | $ | 6 | $ | 1 | |||||||||||||
(a) None of the registrants offset fair value amounts for multiple derivative instruments executed with the same counterparty on the balance sheets; therefore, gross and net amounts of derivative assets and liabilities presented on the balance sheets are the same. | |||||||||||||||||||||||||
(b) Includes gross amounts subject to netting terms that are not offset on the balance sheets and any cash/financial collateral pledged or received. | |||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, the pre-tax effects of unrealized derivative gains (losses) arising from energy-related derivative instruments designated as regulatory hedging instruments and deferred on the balance sheets were as follows: | |||||||||||||||||||||||||
Regulatory Hedge Unrealized Gain (Loss) Recognized on the Balance Sheet at September 30, 2014 | |||||||||||||||||||||||||
Derivative Category and Balance Sheet | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||||||
Location | Company | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other regulatory assets, current | $ | (27 | ) | $ | (5 | ) | $ | (10 | ) | $ | (7 | ) | $ | (5 | ) | ||||||||||
Other regulatory assets, deferred | (25 | ) | (6 | ) | (2 | ) | (12 | ) | (5 | ) | |||||||||||||||
Other regulatory liabilities, current | 9 | 4 | 1 | 2 | 2 | ||||||||||||||||||||
Other regulatory liabilities, deferred (a) | 2 | 1 | — | 1 | — | ||||||||||||||||||||
Total energy-related derivative gains (losses) | $ | (41 | ) | $ | (6 | ) | $ | (11 | ) | $ | (16 | ) | $ | (8 | ) | ||||||||||
(a) | Georgia Power includes other regulatory liabilities, deferred in other deferred credits and liabilities. | ||||||||||||||||||||||||
Regulatory Hedge Unrealized Gain (Loss) Recognized on the Balance Sheet at December 31, 2013 | |||||||||||||||||||||||||
Derivative Category and Balance Sheet | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||||||
Location | Company | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other regulatory assets, current | $ | (26 | ) | $ | (3 | ) | $ | (13 | ) | $ | (6 | ) | $ | (4 | ) | ||||||||||
Other regulatory assets, deferred | (29 | ) | (5 | ) | (8 | ) | (11 | ) | (6 | ) | |||||||||||||||
Other regulatory liabilities, current | 16 | 5 | 3 | 5 | 3 | ||||||||||||||||||||
Other regulatory liabilities, deferred (a) | 7 | 2 | 2 | 2 | 2 | ||||||||||||||||||||
Total energy-related derivative gains (losses) | $ | (32 | ) | $ | (1 | ) | $ | (16 | ) | $ | (10 | ) | $ | (5 | ) | ||||||||||
(a) | Georgia Power includes other regulatory liabilities, deferred in other deferred credits and liabilities. | ||||||||||||||||||||||||
For the three and nine months ended September 30, 2014 and 2013, the pre-tax effects of interest rate and foreign currency derivatives designated as fair value hedging instruments on the statements of income were immaterial on a gross basis for all registrants. Furthermore, the pre-tax effects of interest rate derivatives designated as fair value hedging instruments on the statements of income were offset by changes to the carrying value of long-term debt and the pre-tax effects of foreign currency derivatives designated as fair value hedging instruments on the statements of income were offset by changes in the fair value of the purchase commitment related to equipment purchases. | |||||||||||||||||||||||||
For the three and nine months ended September 30, 2014 and 2013, the pre-tax effects of energy-related derivatives and interest rate derivatives designated as cash flow hedging instruments recognized in OCI and those reclassified from accumulated OCI into earnings were immaterial for all registrants. | |||||||||||||||||||||||||
There was no material ineffectiveness recorded in earnings for any registrant for any period presented. | |||||||||||||||||||||||||
For the three and nine months ended September 30, 2014 and 2013, the pre-tax effects of energy-related and foreign currency derivatives not designated as hedging instruments on the statements of income were immaterial for all registrants. | |||||||||||||||||||||||||
For Southern Power's energy-related derivatives not designated as hedging instruments, a portion of the pre-tax realized and unrealized gains and losses was associated with hedging fuel price risk of certain PPA customers and had no impact on net income or on fuel expense as presented in Southern Company's and Southern Power's statements of income for the three and nine months ended September 30, 2014 and 2013. This third party hedging activity has been discontinued. | |||||||||||||||||||||||||
Contingent Features | |||||||||||||||||||||||||
The registrants do not have any credit arrangements that would require material changes in payment schedules or terminations as a result of a credit rating downgrade. There are certain derivatives that could require collateral, but not accelerated payment, in the event of various credit rating changes of certain Southern Company subsidiaries. At September 30, 2014, the registrants' collateral posted with their derivative counterparties was immaterial. | |||||||||||||||||||||||||
At September 30, 2014, the fair value of derivative liabilities with contingent features was $26 million for all registrants. The maximum potential collateral requirements arising from the credit-risk-related contingent features, at a rating below BBB- and/or Baa3, were $26 million and include certain agreements that could require collateral in the event that one or more Southern Company power pool participants has a credit rating change to below investment grade. | |||||||||||||||||||||||||
Generally, collateral may be provided by a Southern Company guaranty, letter of credit, or cash. If collateral is required, fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral are not offset against fair value amounts recognized for derivatives executed with the same counterparty. | |||||||||||||||||||||||||
Southern Company, the traditional operating companies, and Southern Power are exposed to losses related to financial instruments in the event of counterparties' nonperformance. Southern Company, the traditional operating companies, and Southern Power only enter into agreements and material transactions with counterparties that have investment grade credit ratings by Moody's and S&P or with counterparties who have posted collateral to cover potential credit exposure. Southern Company, the traditional operating companies, and Southern Power have also established risk management policies and controls to determine and monitor the creditworthiness of counterparties in order to mitigate Southern Company's, the traditional operating companies', and Southern Power's exposure to counterparty credit risk. Therefore, Southern Company, the traditional operating companies, and Southern Power do not anticipate a material adverse effect on the financial statements as a result of counterparty nonperformance. |
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2014 | |
Business Combinations [Abstract] | ' |
ACQUISITIONS | ' |
ACQUISITIONS | |
Adobe Solar, LLC | |
See Note 2 to the financial statements of Southern Power under "Adobe Solar, LLC" in Item 8 of the Form 10-K for additional information. | |
On April 17, 2014, Southern Power and TRE, through Southern Turner Renewable Energy, LLC (STR), a jointly-owned subsidiary owned 90% by Southern Power, acquired all of the outstanding membership interests of Adobe from Sun Edison, LLC, the original developer of the project. Adobe constructed and owns an approximately 20-MW solar photovoltaic facility in Kern County, California. The solar facility began commercial operation on May 21, 2014 and the entire output of the plant is contracted under a 20-year PPA with Southern California Edison Company. The acquisition was in accordance with Southern Power's overall growth strategy. | |
Southern Power's acquisition of Adobe included cash consideration of approximately $96.2 million. The fair values of the assets, liabilities, and intangibles acquired were recorded as follows: $83.5 million to property, plant, and equipment, $14.5 million to receivables related to reimbursable transmission costs and $6.3 million to PPA intangible, resulting in a $5.1 million bargain purchase gain with a $2.9 million deferred tax liability. The bargain purchase gain is included in other income (expense), net in Southern Company's and Southern Power's Condensed Consolidated Statements of Income herein. Acquisition-related costs were expensed as incurred and were not material. | |
Macho Springs Solar, LLC | |
On May 22, 2014, Southern Power and TRE, through STR, acquired all of the outstanding membership interests of Macho Springs from First Solar Development, LLC, the original developer of the project. Macho Springs constructed and owns an approximately 50-MW solar photovoltaic facility in Luna County, New Mexico. The solar facility began commercial operation on May 23, 2014 and the entire output of the plant is contracted under a 20-year PPA with El Paso Electric Company. The acquisition was in accordance with Southern Power's overall growth strategy. | |
Southern Power's acquisition of Macho Springs included cash consideration of approximately $130.0 million. As of September 30, 2014, the fair value of the assets acquired was recorded primarily as property, plant, and equipment; however, the allocation of the purchase price to individual assets has not been finalized. The acquisition did not include any contingent consideration. Acquisition-related costs were expensed as incurred and were not material. | |
SG2 Imperial Valley, LLC | |
Subsequent to September 30, 2014, Southern Power, through its wholly-owned subsidiary SG2 Holdings, LLC (Holdings), acquired all of the outstanding membership interests of SG2 Imperial Valley, LLC (SG2) from a wholly-owned subsidiary of First Solar, Inc. (First Solar), the developer of the project. SG2 is constructing an approximately 150-MW solar photovoltaic facility in Southern California (Imperial Facility), which is expected to begin commercial operation later in the fourth quarter 2014. The Imperial Facility's output is contracted under a 25-year PPA with San Diego Gas & Electric Company, a subsidiary of Sempra Energy. This PPA will be accounted for as an operating lease. The acquisition of the Imperial Facility aligns with Southern Power's overall growth strategy. | |
In connection with this acquisition, Holdings made an aggregate payment (consisting of cash consideration and a secured promissory note) of approximately $128 million to the subsidiary of First Solar and became obligated to pay the contract price as it becomes due under the construction contract for the Imperial Facility. The allocation of the purchase price to individual assets has not been finalized. In addition, subject to certain terms and conditions, a subsidiary of First Solar will be admitted as a minority member of Holdings, and as the members of Holdings will make additional agreed upon capital contributions to Holdings that will be used to pay off the previously issued secured promissory note and to fund the Imperial Facility's construction costs. As a result of these capital contributions, the aggregate purchase price payable by Southern Power for the acquisition is approximately $508 million. Following these capital contributions, Southern Power will indirectly own 100% of the class A membership interests of Holdings and be entitled to 51% of all cash distributions from Holdings, and First Solar will indirectly own 100% of the class B membership interests of Holdings and be entitled to 49% of all cash distributions from Holdings. In addition, Southern Power will be entitled to substantially all of the federal tax benefits with respect to this transaction. | |
If the Imperial Facility does not achieve substantial completion by a certain date, Southern Power may require that First Solar make a rescission payment to Southern Power in an amount equal to Southern Power's investment in Holdings, and Southern Power would be required to transfer its ownership interests in SG2 back to First Solar (the Rescission Payment and Transfer). | |
The ultimate outcome of this matter cannot be determined at this time; however, Holdings believes the likelihood of the Rescission Payment and Transfer to be remote at the acquisition date. |
Segment_and_Related_Informatio
Segment and Related Information | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
SEGMENT AND RELATED INFORMATION | ' | |||||||||||||||||||||||||||
SEGMENT AND RELATED INFORMATION | ||||||||||||||||||||||||||||
The primary business of the Southern Company system is electricity sales by the traditional operating companies and Southern Power. The four traditional operating companies – Alabama Power, Georgia Power, Gulf Power, and Mississippi Power – are vertically integrated utilities providing electric service in four Southeastern states. Southern Power constructs, acquires, owns, and manages generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. | ||||||||||||||||||||||||||||
Southern Company's reportable business segments are the sale of electricity by the four traditional operating companies and Southern Power. Revenues from sales by Southern Power to the traditional operating companies were $103 million and $243 million for the three and nine months ended September 30, 2014, respectively, and $97 million and $264 million for the three and nine months ended September 30, 2013, respectively. The "All Other" column includes parent Southern Company, which does not allocate operating expenses to business segments. Also, this category includes segments below the quantitative threshold for separate disclosure. These segments include investments in telecommunications and leveraged lease projects. All other inter-segment revenues are not material. Financial data for business segments and products and services for the three and nine months ended September 30, 2014 and 2013 was as follows: | ||||||||||||||||||||||||||||
Electric Utilities | ||||||||||||||||||||||||||||
Traditional | Southern | Eliminations | Total | All | Eliminations | Consolidated | ||||||||||||||||||||||
Operating | Power | Other | ||||||||||||||||||||||||||
Companies | ||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2014: | ||||||||||||||||||||||||||||
Operating revenues | $ | 5,007 | $ | 435 | $ | (115 | ) | $ | 5,327 | $ | 34 | $ | (22 | ) | $ | 5,339 | ||||||||||||
Segment net income (loss)(a)(b) | 658 | 64 | — | 722 | (2 | ) | (2 | ) | 718 | |||||||||||||||||||
Nine Months Ended September 30, 2014: | ||||||||||||||||||||||||||||
Operating revenues | $ | 13,594 | $ | 1,115 | $ | (301 | ) | $ | 14,408 | $ | 114 | $ | (72 | ) | $ | 14,450 | ||||||||||||
Segment net income (loss)(a)(c) | 1,557 | 128 | — | 1,685 | — | (5 | ) | 1,680 | ||||||||||||||||||||
Total assets at September 30, 2014 | $ | 62,419 | $ | 4,609 | $ | (166 | ) | $ | 66,862 | $ | 1,304 | $ | (512 | ) | $ | 67,654 | ||||||||||||
Three Months Ended September 30, 2013: | ||||||||||||||||||||||||||||
Operating revenues | $ | 4,744 | $ | 365 | $ | (104 | ) | $ | 5,005 | $ | 35 | $ | (23 | ) | $ | 5,017 | ||||||||||||
Segment net income (loss)(a)(b) | 765 | 85 | — | 850 | (1 | ) | 3 | 852 | ||||||||||||||||||||
Nine Months Ended September 30, 2013: | ||||||||||||||||||||||||||||
Operating revenues | $ | 12,430 | $ | 975 | $ | (285 | ) | $ | 13,120 | $ | 108 | $ | (68 | ) | $ | 13,160 | ||||||||||||
Segment net income (loss)(a)(c) | 1,099 | 142 | — | 1,241 | (12 | ) | 1 | 1,230 | ||||||||||||||||||||
Total assets at December 31, 2013 | $ | 59,447 | $ | 4,429 | $ | (101 | ) | $ | 63,775 | $ | 1,077 | $ | (306 | ) | $ | 64,546 | ||||||||||||
(a) After dividends on preferred and preference stock of subsidiaries. | ||||||||||||||||||||||||||||
(b) Segment net income (loss) for the traditional operating companies for the three months ended September 30, 2014 and September 30, 2013 includes a $418.0 million pre-tax charge ($258.1 million after tax) and a $150.0 million pre-tax charge ($92.6 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information. | ||||||||||||||||||||||||||||
(c) Segment net income (loss) for the traditional operating companies for the nine months ended September 30, 2014 and September 30, 2013 includes $798.0 million in pre-tax charges ($492.8 million after tax) and $1.14 billion in pre-tax charges ($704.0 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information. | ||||||||||||||||||||||||||||
Products and Services | ||||||||||||||||||||||||||||
Electric Utilities' Revenues | ||||||||||||||||||||||||||||
Period | Retail | Wholesale | Other | Total | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | $ | 4,558 | $ | 600 | $ | 169 | $ | 5,327 | ||||||||||||||||||||
Three Months Ended September 30, 2013 | 4,319 | 520 | 166 | 5,005 | ||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | $ | 12,186 | $ | 1,719 | $ | 503 | $ | 14,408 | ||||||||||||||||||||
Nine Months Ended September 30, 2013 | 11,237 | 1,406 | 477 | 13,120 | ||||||||||||||||||||||||
Introduction_Policies
Introduction (Policies) | 9 Months Ended | |
Sep. 30, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Reclassification | ' | |
Certain prior year data presented in the financial statements have been reclassified to conform to the current year presentation. These reclassifications had no impact on the results of operations, financial position, or cash flows of any registrant. | ||
Asset Retirement Obligations | ' | |
Asset Retirement Obligations | ||
See Note 1 to the financial statements of Southern Company and Alabama Power under "Asset Retirement Obligations and Other Costs of Removal" in Item 8 of the Form 10-K for additional information. | ||
Asset retirement obligations (ARO) are computed as the present value of the ultimate costs for an asset's future retirement and are recorded in the period in which the liability is incurred. | ||
Depreciation | ' | |
Depreciation | ||
Beginning in 2014, Southern Power changed the method of depreciation for its property, plant, and equipment from composite depreciation to component depreciation. As a result, certain generation assets are depreciated on a units-of-production basis to better match outage and maintenance costs to the usage of, and revenues from, these assets. The expense will fluctuate quarterly based on unit run time, but this change in methodology is not expected to have a material impact on an annual basis on the financial statements of Southern Company or Southern Power. The book value of plant-in-service as of September 30, 2014 that is depreciated on a units of production basis was approximately $470 million. | ||
Recently Issued Accounting Standards | ' | |
Recently Issued Accounting Standards | ||
On May 28, 2014, the Financial Accounting Standards Board issued ASC 606, Revenue from Contracts with Customers. ASC 606 revises the accounting for revenue recognition and is effective for fiscal years beginning after December 15, 2016. The registrants are currently evaluating the requirements of ASC 606. The ultimate impact of the new standard has not yet been determined. | ||
Valuation Methodologies | ' | |
Valuation Methodologies | ||
The energy-related derivatives primarily consist of over-the-counter financial products for natural gas and physical power products including, from time to time, basis swaps. These are standard products used within the energy industry and are valued using the market approach. The inputs used are mainly from observable market sources, such as forward natural gas prices, power prices, implied volatility, and overnight index swap interest rates. Interest rate and foreign currency derivatives are also standard over-the-counter financial products valued using the market approach. Inputs for interest rate derivatives include LIBOR interest rates, interest rate futures contracts, and occasionally implied volatility of interest rate options. Inputs for foreign currency derivatives are from observable market sources. See Note (H) herein for additional information on how these derivatives are used. | ||
For fair value measurements of investments within the nuclear decommissioning trusts, specifically the fixed income assets using significant other observable inputs and unobservable inputs, the primary valuation technique used is the market approach. External pricing vendors are designated for each of the asset classes in the nuclear decommissioning trusts with each security discriminately assigned a primary pricing source, based on similar characteristics. A market price secured from the primary source vendor is then evaluated by management in its valuation of the assets within the trusts. As a general approach, market pricing vendors gather market data (including indices and market research reports) and integrate relative credit information, observed market movements, and sector news into proprietary pricing models, pricing systems, and mathematical tools. Dealer quotes and other market information including live trading levels and pricing analysts' judgment are also obtained when available. Investments in private equity and real estate within the nuclear decommissioning trusts are generally classified as Level 3, as the underlying assets typically do not have observable inputs. The fund manager values these assets using various inputs and techniques depending on the nature of the underlying investments. The fair value of partnerships is determined by aggregating the value of the underlying assets. | ||
"Other investments" include investments in funds that are valued using the market approach and income approach. Securities that are traded in the open market are valued at the closing price on their principal exchange as of the measurement date. For investments that are not traded in the open market, the price paid will have been determined based on market factors including comparable multiples and the expectations regarding cash flows and business plan execution. As the investments mature or if market conditions change materially, further analysis of the fair market value of the investment is performed. | ||
Earnings per Share | ' | |
Earnings per Share | ||
For Southern Company, the only difference in computing basic and diluted earnings per share is attributable to awards outstanding under the stock option and performance share plans. See Note 8 to the financial statements of Southern Company in Item 8 of the Form 10-K for information on the stock option and performance share plans. The effects of both stock options and performance share award units were determined using the treasury stock method. | ||
Energy-Related Derivatives and Interest Rate Derivatives | ' | |
Interest Rate Derivatives | ||
Southern Company and certain subsidiaries may also enter into interest rate derivatives to hedge exposure to changes in interest rates. The derivatives employed as hedging instruments are structured to minimize ineffectiveness. Derivatives related to existing variable rate securities or forecasted transactions are accounted for as cash flow hedges where the effective portion of the derivatives' fair value gains or losses is recorded in OCI and is reclassified into earnings at the same time the hedged transactions affect earnings, with any ineffectiveness recorded directly to earnings. Derivatives related to existing fixed rate securities are accounted for as fair value hedges, where the derivatives' fair value gains or losses and hedged items' fair value gains or losses are both recorded directly to earnings, providing an offset, with any difference representing ineffectiveness. | ||
Energy-Related Derivatives | ||
The traditional operating companies and Southern Power enter into energy-related derivatives to hedge exposures to electricity, gas, and other fuel price changes. However, due to cost-based rate regulations and other various cost recovery mechanisms, the traditional operating companies have limited exposure to market volatility in commodity fuel prices and prices of electricity. Each of the traditional operating companies manages fuel-hedging programs, implemented per the guidelines of their respective state PSCs, through the use of financial derivative contracts, which is expected to continue to mitigate price volatility. The traditional operating companies (with respect to wholesale generating capacity) and Southern Power have limited exposure to market volatility in commodity fuel prices and prices of electricity because their long-term sales contracts shift substantially all fuel cost responsibility to the purchaser. However, Southern Power has been and may continue to be exposed to market volatility in energy-related commodity prices as a result of sales from its uncontracted generating capacity. Further, the traditional operating companies may be exposed to market volatility in energy-related commodity prices to the extent any uncontracted wholesale generating capacity is used to sell electricity. | ||
To mitigate residual risks relative to movements in electricity prices, the traditional operating companies and Southern Power may enter into physical fixed-price contracts for the purchase and sale of electricity through the wholesale electricity market. To mitigate residual risks relative to movements in gas prices, the traditional operating companies and Southern Power may enter into fixed-price contracts for natural gas purchases; however, a significant portion of contracts are priced at market. | ||
Energy-related derivative contracts are accounted for under one of three methods: | ||
• | Regulatory Hedges — Energy-related derivative contracts which are designated as regulatory hedges relate primarily to the traditional operating companies' fuel-hedging programs, where gains and losses are initially recorded as regulatory liabilities and assets, respectively, and then are included in fuel expense as the underlying fuel is used in operations and ultimately recovered through the respective fuel cost recovery clauses. | |
• | Cash Flow Hedges — Gains and losses on energy-related derivatives designated as cash flow hedges which are mainly used to hedge anticipated purchases and sales and are initially deferred in OCI before being recognized in the statements of income in the same period as the hedged transactions are reflected in earnings. | |
• | Not Designated — Gains and losses on energy-related derivative contracts that are not designated or fail to qualify as hedges are recognized in the statements of income as incurred. | |
Some energy-related derivative contracts require physical delivery as opposed to financial settlement, and this type of derivative is both common and prevalent within the electric industry. When an energy-related derivative contract is settled physically, any cumulative unrealized gain or loss is reversed and the contract price is recognized in the respective line item representing the actual price of the underlying goods being delivered. | ||
Foreign Currency Derivatives | ' | |
Foreign Currency Derivatives | ||
Southern Company and certain subsidiaries may enter into foreign currency derivatives to hedge exposure to changes in foreign currency exchange rates arising from purchases of equipment denominated in a currency other than U.S. dollars. Derivatives related to a firm commitment in a foreign currency transaction are accounted for as fair value hedges where the derivatives' fair value gains or losses and the hedged items' fair value gains or losses are both recorded directly to earnings. Derivatives related to a forecasted transaction are accounted for as cash flow hedges where the effective portion of the derivatives' fair value gains or losses is recorded in OCI and is reclassified into earnings at the same time the hedged transactions affect earnings. The derivatives employed as hedging instruments are structured to minimize ineffectiveness. Any ineffectiveness is recorded directly to earnings; however, Mississippi Power has regulatory approval allowing it to defer any ineffectiveness associated with firm commitments related to the Kemper IGCC to a regulatory asset. |
Introduction_Tables
Introduction (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||
Schedule of Asset Retirement Obligations | ' | |||||||
As of September 30, 2014 and 2013, details of the ARO related to Alabama Power's assets included in Southern Company's and Alabama Power's Condensed Balance Sheets herein are as follows: | ||||||||
2014 | 2013 | |||||||
(in millions) | ||||||||
Balance at beginning of year | $ | 730 | $ | 589 | ||||
Liabilities incurred | — | — | ||||||
Liabilities settled | (2 | ) | — | |||||
Accretion | 33 | 29 | ||||||
Cash flow revisions | 52 | 102 | ||||||
Balance at end of period | $ | 813 | $ | 720 | ||||
Contingencies_and_Regulatory_M1
Contingencies and Regulatory Matters (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||
Schedule of Recovery Balance of Each Regulatory Clause | ' | |||||||||||
The recovery balance of each regulatory clause follows: | ||||||||||||
Regulatory Clause | Balance Sheet Line Item | September 30, | December 31, | |||||||||
2014 | 2013 | |||||||||||
(in millions) | ||||||||||||
Rate CNP Environmental – Under | Deferred under recovered regulatory clause revenues | $ | — | $ | 7 | |||||||
Under recovered regulatory clause revenues, current | 25 | — | ||||||||||
Rate CNP PPA – Under | Deferred under recovered regulatory clause revenues | 46 | 18 | |||||||||
Under recovered regulatory clause revenues, current | 9 | — | ||||||||||
Retail Energy Cost Recovery – Over | Other regulatory liabilities, current | 44 | 27 | |||||||||
Deferred over recovered regulatory clause revenues | — | 15 | ||||||||||
Natural Disaster Reserve | Other regulatory liabilities, deferred | 87 | 96 | |||||||||
Recovery Position of Each Regulatory Clause | ' | |||||||||||
The recovery balance of each regulatory clause follows: | ||||||||||||
Recovery Clause | Balance Sheet Location | September 30, 2014 | December 31, 2013 | |||||||||
(in millions) | ||||||||||||
Fuel Cost Recovery – Under | Under recovered regulatory clause revenues | $ | 41.3 | $ | 21 | |||||||
Purchased Power Capacity Recovery – Over | Other regulatory liabilities, current | 6.8 | — | |||||||||
Purchased Power Capacity Recovery – Under | Under recovered regulatory clause revenues | — | 2.8 | |||||||||
Environmental Cost Recovery – Under | Under recovered regulatory clause revenues | 6.3 | 14.4 | |||||||||
Energy Conservation Cost Recovery – Under | Under recovered regulatory clause revenues | 2.6 | 7 | |||||||||
Current And Actual Cost Estimate for Kemper IGCC | ' | |||||||||||
Mississippi Power's 2010 project estimate, current cost estimate, and actual costs incurred as of September 30, 2014 for the Kemper IGCC are as follows: | ||||||||||||
Cost Category | 2010 Project Estimate(f) | Current Estimate | Actual Costs at September 30, 2014 | |||||||||
(in billions) | ||||||||||||
Plant Subject to Cost Cap(a) | $ | 2.4 | $ | 4.86 | $ | 4.06 | ||||||
Lignite Mine and Equipment | 0.21 | 0.23 | 0.23 | |||||||||
CO2 Pipeline Facilities | 0.14 | 0.11 | 0.1 | |||||||||
AFUDC(b)(c) | 0.17 | 0.62 | 0.41 | |||||||||
Combined Cycle and Related Assets Placed in | — | — | — | |||||||||
Service – Incremental(d) | ||||||||||||
General Exceptions | 0.05 | 0.1 | 0.07 | |||||||||
Regulatory Asset(c)(e) | — | 0.18 | 0.1 | |||||||||
Total Kemper IGCC(a)(c) | $ | 2.97 | $ | 6.1 | $ | 4.97 | ||||||
(a) | The 2012 MPSC CPCN Order approved a construction cost cap of up to $2.88 billion, net of the DOE Grants and excluding the Cost Cap Exceptions. The Current Estimate and Actual Costs include non-incremental operating and maintenance costs related to the combined cycle and associated common facilities placed in service in August 2014 that are subject to the $2.88 billion cost cap. | |||||||||||
(b) | Mississippi Power's original estimate included recovery of financing costs during construction rather than the accrual of AFUDC. This approach was not approved by the Mississippi PSC in 2012 as described in "Rate Recovery of Kemper IGCC Costs." | |||||||||||
(c) | Amounts in the Current Estimate reflect costs through March 31, 2016. | |||||||||||
(d) | Incremental operating and maintenance costs related to the combined cycle and associated common facilities placed in service on August 9, 2014, net of costs related to energy sales. | |||||||||||
(e) | The 2012 MPSC CPCN Order approved deferral of non-capital Kemper IGCC-related costs during construction as described in "Rate Recovery of Kemper IGCC Costs – Regulatory Assets and Liabilities." | |||||||||||
(f) | The 2010 Project Estimate is the certificated cost estimate adjusted to include the certificated estimate for the CO2 pipeline facilities which was approved in 2011 by the Mississippi PSC. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | ' | ||||||||||||||||
As of September 30, 2014, assets and liabilities measured at fair value on a recurring basis during the period, together with the level of the fair value hierarchy in which they fall, were as follows: | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
As of September 30, 2014: | Quoted Prices | Significant | Significant | Total | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
(in millions) | |||||||||||||||||
Southern Company | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 12 | $ | — | $ | 12 | |||||||||
Nuclear decommissioning trusts(a) | 632 | 875 | 2 | 1,509 | |||||||||||||
Cash equivalents | 955 | — | — | 955 | |||||||||||||
Other investments | 9 | — | 1 | 10 | |||||||||||||
Total | $ | 1,596 | $ | 887 | $ | 3 | $ | 2,486 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 53 | $ | — | $ | 53 | |||||||||
Interest rate derivatives | — | 2 | — | 2 | |||||||||||||
Total | $ | — | $ | 55 | $ | — | $ | 55 | |||||||||
Alabama Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 5 | $ | — | $ | 5 | |||||||||
Nuclear decommissioning trusts(b) | |||||||||||||||||
Domestic equity | 399 | 78 | — | 477 | |||||||||||||
Foreign equity | 34 | 65 | — | 99 | |||||||||||||
U.S. Treasury and government agency securities | — | 34 | — | 34 | |||||||||||||
Corporate bonds | — | 98 | — | 98 | |||||||||||||
Mortgage and asset backed securities | — | 19 | — | 19 | |||||||||||||
Other | — | 8 | 2 | 10 | |||||||||||||
Cash equivalents | 543 | — | — | 543 | |||||||||||||
Total | $ | 976 | $ | 307 | $ | 2 | $ | 1,285 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 11 | $ | — | $ | 11 | |||||||||
Interest rate derivatives | — | 1 | — | 1 | |||||||||||||
Total | $ | — | $ | 12 | $ | — | $ | 12 | |||||||||
Fair Value Measurements Using | |||||||||||||||||
As of September 30, 2014: | Quoted Prices | Significant | Significant | Total | |||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
(in millions) | |||||||||||||||||
Georgia Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 1 | $ | — | $ | 1 | |||||||||
Nuclear decommissioning trusts(b) (c) | |||||||||||||||||
Domestic equity | 191 | 2 | — | 193 | |||||||||||||
Foreign equity | — | 132 | — | 132 | |||||||||||||
U.S. Treasury and government agency securities | — | 126 | — | 126 | |||||||||||||
Municipal bonds | — | 25 | — | 25 | |||||||||||||
Corporate bonds | — | 169 | — | 169 | |||||||||||||
Mortgage and asset backed securities | — | 114 | — | 114 | |||||||||||||
Other | 8 | 5 | — | 13 | |||||||||||||
Total | $ | 199 | $ | 574 | $ | — | $ | 773 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 12 | $ | — | $ | 12 | |||||||||
Gulf Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 3 | $ | — | $ | 3 | |||||||||
Cash equivalents | 18 | — | — | 18 | |||||||||||||
Total | $ | 18 | $ | 3 | $ | — | $ | 21 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 19 | $ | — | $ | 19 | |||||||||
Mississippi Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 2 | $ | — | $ | 2 | |||||||||
Cash equivalents | 45 | — | — | 45 | |||||||||||||
Total | $ | 45 | $ | 2 | $ | — | $ | 47 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 10 | $ | — | $ | 10 | |||||||||
Southern Power | |||||||||||||||||
Assets: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 1 | $ | — | $ | 1 | |||||||||
Cash equivalents | 80 | — | — | 80 | |||||||||||||
Total | $ | 80 | $ | 1 | $ | — | $ | 81 | |||||||||
Liabilities: | |||||||||||||||||
Energy-related derivatives | $ | — | $ | 1 | $ | — | $ | 1 | |||||||||
(a) | For additional detail, see the nuclear decommissioning trusts sections for Alabama Power and Georgia Power in this table. | ||||||||||||||||
(b) | Excludes receivables related to investment income, pending investment sales, and payables related to pending investment purchases. | ||||||||||||||||
(c) | Includes the investment securities pledged to creditors and cash collateral received and excludes payables related to the securities lending program. As of September 30, 2014, approximately $58 million of the fair market value of Georgia Power's nuclear decommissioning trust funds' securities were on loan and pledged to creditors under the funds' managers' securities lending program. | ||||||||||||||||
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' | ||||||||||||||||
As of September 30, 2014, the fair value measurements of investments calculated at net asset value per share (or its equivalent), as well as the nature and risks of those investments, were as follows: | |||||||||||||||||
As of September 30, 2014: | Fair | Unfunded | Redemption | Redemption | |||||||||||||
Value | Commitments | Frequency | Notice Period | ||||||||||||||
(in millions) | |||||||||||||||||
Southern Company | |||||||||||||||||
Nuclear decommissioning trusts: | |||||||||||||||||
Foreign equity funds | $ | 132 | None | Monthly | 5 days | ||||||||||||
Equity - commingled funds | 65 | None | Daily/Monthly | Daily/7 days | |||||||||||||
Other - commingled funds | 5 | None | Daily | Not applicable | |||||||||||||
Other - money market funds | 8 | None | Daily | Not applicable | |||||||||||||
Trust-owned life insurance | 112 | None | Daily | 15 days | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | 955 | None | Daily | Not applicable | |||||||||||||
Alabama Power | |||||||||||||||||
Nuclear decommissioning trusts: | |||||||||||||||||
Equity - commingled funds | $ | 65 | None | Daily/Monthly | Daily/7 days | ||||||||||||
Trust-owned life insurance | 112 | None | Daily | 15 days | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | 543 | None | Daily | Not applicable | |||||||||||||
Georgia Power | |||||||||||||||||
Nuclear decommissioning trusts: | |||||||||||||||||
Foreign equity funds | $ | 132 | None | Monthly | 5 days | ||||||||||||
Other - commingled funds | 5 | None | Daily | Not applicable | |||||||||||||
Other - money market funds | 8 | None | Daily | Not applicable | |||||||||||||
Gulf Power | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 18 | None | Daily | Not applicable | ||||||||||||
Mississippi Power | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 45 | None | Daily | Not applicable | ||||||||||||
Southern Power | |||||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 80 | None | Daily | Not applicable | ||||||||||||
Financial instruments for which carrying amount did not equal fair value | ' | ||||||||||||||||
As of September 30, 2014, other financial instruments for which the carrying amount did not equal fair value were as follows: | |||||||||||||||||
Carrying | Fair | ||||||||||||||||
Amount | Value | ||||||||||||||||
(in millions) | |||||||||||||||||
Long-term debt: | |||||||||||||||||
Southern Company | $ | 23,936 | $ | 25,318 | |||||||||||||
Alabama Power | $ | 6,625 | $ | 7,195 | |||||||||||||
Georgia Power | $ | 9,597 | $ | 10,167 | |||||||||||||
Gulf Power | $ | 1,444 | $ | 1,517 | |||||||||||||
Mississippi Power | $ | 2,365 | $ | 2,397 | |||||||||||||
Southern Power | $ | 1,629 | $ | 1,745 | |||||||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||
Earnings per Share | ' | ||||||||||||||||||
Shares used to compute diluted earnings per share were as follows: | |||||||||||||||||||
Three Months | Three Months | Nine Months | Nine Months | ||||||||||||||||
Ended | Ended | Ended | Ended | ||||||||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||||||||
(in millions) | |||||||||||||||||||
As reported shares | 898 | 878 | 894 | 874 | |||||||||||||||
Effect of options and performance share award units | 4 | 3 | 4 | 5 | |||||||||||||||
Diluted shares | 902 | 881 | 898 | 879 | |||||||||||||||
Changes in Stockholders' Equity | ' | ||||||||||||||||||
The following table presents year-to-date changes in stockholders' equity of Southern Company: | |||||||||||||||||||
Number of | Common | Preferred and | Total | ||||||||||||||||
Common Shares | Stockholders' | Preference | Stockholders' | ||||||||||||||||
Equity | Stock of | Equity | |||||||||||||||||
Issued | Treasury | Subsidiaries | |||||||||||||||||
(in thousands) | (in millions) | ||||||||||||||||||
Balance at December 31, 2013 | 892,733 | (5,647 | ) | $ | 19,008 | $ | 756 | $ | 19,764 | ||||||||||
Net income after dividends on preferred and preference stock | — | — | 1,680 | — | 1,680 | ||||||||||||||
Other comprehensive income (loss) | — | — | 6 | — | 6 | ||||||||||||||
Treasury stock re-issued | — | 4,996 | 225 | — | 225 | ||||||||||||||
Stock issued | 7,781 | — | 332 | — | 332 | ||||||||||||||
Stock repurchased, at cost | — | — | (5 | ) | — | (5 | ) | ||||||||||||
Cash dividends on common stock | — | — | (1,390 | ) | — | (1,390 | ) | ||||||||||||
Other | — | (51 | ) | 1 | — | 1 | |||||||||||||
Balance at September 30, 2014 | 900,514 | (702 | ) | $ | 19,857 | $ | 756 | $ | 20,613 | ||||||||||
Balance at December 31, 2012 | 877,803 | (10,035 | ) | $ | 18,297 | $ | 707 | $ | 19,004 | ||||||||||
Net income after dividends on preferred and preference stock | — | — | 1,230 | — | 1,230 | ||||||||||||||
Other comprehensive income (loss) | — | — | 11 | — | 11 | ||||||||||||||
Treasury stock re-issued | — | 1,956 | 89 | — | 89 | ||||||||||||||
Stock issued | 12,046 | — | 484 | 49 | 533 | ||||||||||||||
Stock repurchased, at cost | — | — | (19 | ) | — | (19 | ) | ||||||||||||
Cash dividends on common stock | — | — | (1,314 | ) | — | (1,314 | ) | ||||||||||||
Other | — | (30 | ) | — | — | — | |||||||||||||
Balance at September 30, 2013 | 889,849 | (8,109 | ) | $ | 18,778 | $ | 756 | $ | 19,534 | ||||||||||
Financing_Tables
Financing (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Credit arrangements by company | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table outlines the committed credit arrangements by company as of September 30, 2014: | |||||||||||||||||||||||||||||||||||||||||||||
Expires | Executable Term | Due Within One | |||||||||||||||||||||||||||||||||||||||||||
Loans | Year | ||||||||||||||||||||||||||||||||||||||||||||
Company | 2014 | 2015 | 2016 | 2017 | 2018 | Total | Unused | One | Two | Term | No Term | ||||||||||||||||||||||||||||||||||
Year | Years | Out | Out | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||
Southern Company | $ | — | $ | — | $ | — | $ | — | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Alabama Power | 70 | 158 | 50 | — | 1,030 | 1,308 | 1,308 | 58 | — | 58 | 170 | ||||||||||||||||||||||||||||||||||
Georgia Power | — | — | 150 | — | 1,600 | 1,750 | 1,736 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Gulf Power | 20 | 60 | 165 | 30 | — | 275 | 275 | 50 | — | 50 | 30 | ||||||||||||||||||||||||||||||||||
Mississippi Power | 15 | 120 | 165 | — | — | 300 | 300 | 25 | 40 | 65 | 70 | ||||||||||||||||||||||||||||||||||
Southern Power | — | — | — | — | 500 | 500 | 499 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other | — | 70 | — | — | — | 70 | 70 | 20 | — | 20 | 50 | ||||||||||||||||||||||||||||||||||
Total | $ | 105 | $ | 408 | $ | 530 | $ | 30 | $ | 4,130 | $ | 5,203 | $ | 5,188 | $ | 153 | $ | 40 | $ | 193 | $ | 320 | |||||||||||||||||||||||
Schedule of Long-term Debt Financing Activities | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table outlines the long-term debt financing activities for Southern Company and its subsidiaries for the first nine months of 2014: | |||||||||||||||||||||||||||||||||||||||||||||
Company | Senior Note Issuances | Senior | Revenue | Revenue | Other | Other | |||||||||||||||||||||||||||||||||||||||
Note Maturities | Bond | Bond | Long-Term | Long-Term | |||||||||||||||||||||||||||||||||||||||||
Issuances and | Redemptions | Debt | Debt | ||||||||||||||||||||||||||||||||||||||||||
Remarketings | Issuances | Redemptions(b) | |||||||||||||||||||||||||||||||||||||||||||
of Purchased | |||||||||||||||||||||||||||||||||||||||||||||
Bonds(a) | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Southern Company | $ | 750 | $ | 350 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||
Alabama Power | 400 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Georgia Power | — | — | 40 | 37 | 1,000 | 4 | |||||||||||||||||||||||||||||||||||||||
Gulf Power | 200 | — | 42 | 29 | — | — | |||||||||||||||||||||||||||||||||||||||
Mississippi Power | — | — | — | — | 493 | 222 | |||||||||||||||||||||||||||||||||||||||
Southern Power | — | — | — | — | 10 | 1 | |||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | 15 | |||||||||||||||||||||||||||||||||||||||
Elimination(c) | — | — | — | — | (220 | ) | (220 | ) | |||||||||||||||||||||||||||||||||||||
Total | $ | 1,350 | $ | 350 | $ | 82 | $ | 66 | $ | 1,283 | $ | 22 | |||||||||||||||||||||||||||||||||
(a) | Includes remarketing by Gulf Power of $13 million aggregate principal amount of revenue bonds previously purchased and held by Gulf Power since December 2013 and remarketing by Georgia Power of $40 million aggregate principal amount of revenue bonds previously purchased and held by Georgia Power since 2010. | ||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes reductions in capital lease obligations resulting from cash payments under capital leases. | ||||||||||||||||||||||||||||||||||||||||||||
(c) | Intercompany loan from Southern Company to Mississippi Power eliminated in Southern Company's Condensed Consolidated Financial Statements. This loan was repaid on September 29, 2014. |
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||
Pension Plans and Postretirement Plans | ' | ||||||||||||||||||||
Components of the net periodic benefit costs for the three and nine months ended September 30, 2014 and 2013 were as follows: | |||||||||||||||||||||
Pension Plans | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||
Company | Power | Power | Power | Power | |||||||||||||||||
(in millions) | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 53 | $ | 12 | $ | 16 | $ | 4 | $ | 3 | |||||||||||
Interest cost | 109 | 26 | 39 | 4 | 5 | ||||||||||||||||
Expected return on plan assets | (161 | ) | (42 | ) | (57 | ) | (7 | ) | (8 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 6 | 2 | 2 | — | — | ||||||||||||||||
Net (gain)/loss | 28 | 7 | 10 | 1 | 2 | ||||||||||||||||
Net cost | $ | 35 | $ | 5 | $ | 10 | $ | 2 | $ | 2 | |||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 160 | $ | 36 | $ | 47 | $ | 8 | $ | 8 | |||||||||||
Interest cost | 326 | 78 | 115 | 14 | 15 | ||||||||||||||||
Expected return on plan assets | (484 | ) | (126 | ) | (170 | ) | (21 | ) | (22 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 19 | 5 | 7 | 1 | 1 | ||||||||||||||||
Net (gain)/loss | 83 | 23 | 30 | 3 | 4 | ||||||||||||||||
Net cost | $ | 104 | $ | 16 | $ | 29 | $ | 5 | $ | 6 | |||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 58 | $ | 12 | $ | 17 | $ | 3 | $ | 3 | |||||||||||
Interest cost | 97 | 23 | 35 | 4 | 5 | ||||||||||||||||
Expected return on plan assets | (151 | ) | (39 | ) | (54 | ) | (6 | ) | (7 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 7 | 2 | 3 | — | 1 | ||||||||||||||||
Net (gain)/loss | 50 | 13 | 19 | 2 | 2 | ||||||||||||||||
Net cost | $ | 61 | $ | 11 | $ | 20 | $ | 3 | $ | 4 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 174 | $ | 39 | $ | 52 | $ | 8 | $ | 8 | |||||||||||
Interest cost | 291 | 69 | 104 | 13 | 14 | ||||||||||||||||
Expected return on plan assets | (452 | ) | (117 | ) | (160 | ) | (19 | ) | (20 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 20 | 5 | 8 | 1 | 1 | ||||||||||||||||
Net (gain)/loss | 150 | 39 | 56 | 6 | 7 | ||||||||||||||||
Net cost | $ | 183 | $ | 35 | $ | 60 | $ | 9 | $ | 10 | |||||||||||
Postretirement Benefits | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||
Company | Power | Power | Power | Power | |||||||||||||||||
(in millions) | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 5 | $ | 1 | $ | 2 | $ | — | $ | — | |||||||||||
Interest cost | 19 | 5 | 9 | — | — | ||||||||||||||||
Expected return on plan assets | (14 | ) | (6 | ) | (6 | ) | — | — | |||||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 1 | 1 | — | — | — | ||||||||||||||||
Net (gain)/loss | 1 | — | — | — | — | ||||||||||||||||
Net cost | $ | 12 | $ | 1 | $ | 5 | $ | — | $ | — | |||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Service cost | $ | 16 | $ | 4 | $ | 5 | $ | 1 | $ | 1 | |||||||||||
Interest cost | 59 | 15 | 26 | 2 | 2 | ||||||||||||||||
Expected return on plan assets | (44 | ) | (19 | ) | (19 | ) | (1 | ) | (1 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Prior service costs | 3 | 3 | — | — | — | ||||||||||||||||
Net (gain)/loss | 2 | — | 1 | — | — | ||||||||||||||||
Net cost | $ | 36 | $ | 3 | $ | 13 | $ | 2 | $ | 2 | |||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 6 | $ | 2 | $ | 3 | $ | — | $ | — | |||||||||||
Interest cost | 18 | 5 | 8 | 1 | 1 | ||||||||||||||||
Expected return on plan assets | (14 | ) | (6 | ) | (7 | ) | (1 | ) | — | ||||||||||||
Amortization: | |||||||||||||||||||||
Transition obligation | 2 | — | 1 | — | — | ||||||||||||||||
Prior service costs | 1 | 1 | — | — | — | ||||||||||||||||
Net (gain)/loss | 3 | — | 2 | — | — | ||||||||||||||||
Net cost | $ | 16 | $ | 2 | $ | 7 | $ | — | $ | 1 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Service cost | $ | 18 | $ | 5 | $ | 6 | $ | 1 | $ | 1 | |||||||||||
Interest cost | 55 | 14 | 24 | 2 | 3 | ||||||||||||||||
Expected return on plan assets | (42 | ) | (18 | ) | (19 | ) | (1 | ) | (1 | ) | |||||||||||
Amortization: | |||||||||||||||||||||
Transition obligation | 4 | — | 3 | — | — | ||||||||||||||||
Prior service costs | 3 | 3 | — | — | — | ||||||||||||||||
Net (gain)/loss | 9 | 1 | 6 | — | — | ||||||||||||||||
Net cost | $ | 47 | $ | 5 | $ | 20 | $ | 2 | $ | 3 | |||||||||||
Derivatives_Tables
Derivatives (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of derivatives | ' | ||||||||||||||||||||||||
At September 30, 2014, the net volume of energy-related derivative contracts for natural gas positions for the Southern Company system, together with the longest hedge date over which the respective entity is hedging its exposure to the variability in future cash flows for forecasted transactions and the longest non-hedge date for derivatives not designated as hedges, were as follows: | |||||||||||||||||||||||||
Net | Longest | Longest | |||||||||||||||||||||||
Purchased | Hedge | Non-Hedge | |||||||||||||||||||||||
mmBtu | Date | Date | |||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Southern Company | 232 | 2018 | 2017 | ||||||||||||||||||||||
Alabama Power | 57 | 2017 | — | ||||||||||||||||||||||
Georgia Power | 47 | 2017 | — | ||||||||||||||||||||||
Gulf Power | 77 | 2018 | — | ||||||||||||||||||||||
Mississippi Power | 49 | 2017 | — | ||||||||||||||||||||||
Southern Power | 2 | — | 2017 | ||||||||||||||||||||||
Notional amount of interest rate derivatives | ' | ||||||||||||||||||||||||
At September 30, 2014, the following interest rate derivatives were outstanding: | |||||||||||||||||||||||||
Notional | Interest | Weighted | Hedge | Fair Value | |||||||||||||||||||||
Amount | Rate | Average | Maturity | Gain (Loss) | |||||||||||||||||||||
Received | Interest | Date | September 30, | ||||||||||||||||||||||
Rate Paid | 2014 | ||||||||||||||||||||||||
(in millions) | (in millions) | ||||||||||||||||||||||||
Cash flow hedges of forecasted debt | |||||||||||||||||||||||||
Alabama Power | $ | 100 | 3-month | 3.07% | Oct-25 | $ | (1 | ) | |||||||||||||||||
LIBOR | |||||||||||||||||||||||||
Fair value hedges on existing debt | |||||||||||||||||||||||||
Southern Company | 250 | 1.30% | 3-month | Aug-17 | (1 | ) | |||||||||||||||||||
LIBOR + 0.17% | |||||||||||||||||||||||||
Total | $ | 350 | $ | (2 | ) | ||||||||||||||||||||
Fair value of energy-related derivatives and interest rate derivatives | ' | ||||||||||||||||||||||||
At September 30, 2014, the fair value of energy-related derivatives designated as hedging instruments for regulatory purposes and interest rate derivatives was reflected in the balance sheets as follows: | |||||||||||||||||||||||||
Asset Derivatives at September 30, 2014 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and Balance Sheet Location | Southern | Alabama | Georgia | Gulf | Mississippi | Southern | |||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 9 | $ | 4 | $ | 1 | $ | 2 | $ | 2 | |||||||||||||||
Other deferred charges and assets | 2 | 1 | — | 1 | — | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 11 | $ | 5 | $ | 1 | $ | 3 | $ | 2 | N/A | ||||||||||||||
Derivatives designated as hedging instruments in cash flow and fair value hedges | |||||||||||||||||||||||||
Interest rate derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 2 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Total asset derivatives | $ | 13 | $ | 5 | $ | 1 | $ | 3 | $ | 2 | $ | — | |||||||||||||
Liability Derivatives at September 30, 2014 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and | Southern | Alabama | Georgia | Gulf | Mississippi | Southern | |||||||||||||||||||
Balance Sheet Location | Company | Power | Power | Power | Power | Power | |||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Liabilities from risk management activities (a) | $ | 27 | $ | 5 | $ | 10 | $ | 7 | $ | 5 | |||||||||||||||
Other deferred credits and liabilities | 25 | 6 | 2 | 12 | 5 | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 52 | $ | 11 | $ | 12 | $ | 19 | $ | 10 | N/A | ||||||||||||||
Derivatives designated as hedging instruments in cash flow and fair value hedges | |||||||||||||||||||||||||
Interest rate derivatives: | |||||||||||||||||||||||||
Other deferred credits and liabilities | $ | 4 | $ | 1 | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Total liability derivatives | $ | 56 | $ | 12 | $ | 12 | $ | 19 | $ | 10 | $ | — | |||||||||||||
(a) | Georgia Power includes liabilities from risk management activities in other current liabilities. | ||||||||||||||||||||||||
At December 31, 2013, the fair value of energy-related derivatives and interest rate derivatives was reflected in the balance sheets as follows: | |||||||||||||||||||||||||
Asset Derivatives at December 31, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and Balance Sheet Location | Southern | Alabama | Georgia | Gulf | Mississippi | Southern | |||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 16 | $ | 5 | $ | 3 | $ | 5 | $ | 3 | |||||||||||||||
Other deferred charges and assets | 7 | 2 | 2 | 2 | 2 | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 23 | $ | 7 | $ | 5 | $ | 7 | $ | 5 | N/A | ||||||||||||||
Derivatives designated as hedging instruments in cash flow and fair value hedges | |||||||||||||||||||||||||
Interest rate derivatives: | |||||||||||||||||||||||||
Other current assets | $ | 3 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other deferred charges and assets | 1 | — | — | — | — | 1 | |||||||||||||||||||
Total asset derivatives | $ | 27 | $ | 7 | $ | 5 | $ | 7 | $ | 5 | $ | 1 | |||||||||||||
Liability Derivatives at December 31, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Category and | Southern | Alabama | Georgia | Gulf | Mississippi | Southern Power | |||||||||||||||||||
Balance Sheet Location | Company | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Derivatives designated as hedging instruments for regulatory purposes | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Liabilities from risk management activities (a) | $ | 26 | $ | 3 | $ | 13 | $ | 6 | $ | 4 | |||||||||||||||
Other deferred credits and liabilities | 29 | 5 | 8 | 11 | 6 | ||||||||||||||||||||
Total derivatives designated as hedging instruments for regulatory purposes | $ | 55 | $ | 8 | $ | 21 | $ | 17 | $ | 10 | N/A | ||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Liabilities from risk management activities | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | 1 | |||||||||||||
Total liability derivatives | $ | 56 | $ | 8 | $ | 21 | $ | 17 | $ | 10 | $ | 1 | |||||||||||||
(a) Georgia Power includes liabilities from risk management activities in other current liabilities. | |||||||||||||||||||||||||
Offsetting disclosure tables | ' | ||||||||||||||||||||||||
Interest rate derivatives presented in the tables above do not have amounts available for offset and are therefore excluded from the offsetting disclosure tables below. | |||||||||||||||||||||||||
Derivative Contracts at September 30, 2014 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Southern | Alabama | Georgia | Gulf | Mississippi | Southern | ||||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 12 | $ | 5 | $ | 1 | $ | 3 | $ | 2 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (11 | ) | (4 | ) | (1 | ) | (3 | ) | (2 | ) | — | ||||||||||||||
Net energy-related derivative assets | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | $ | 1 | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 53 | $ | 11 | $ | 12 | $ | 19 | $ | 10 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (11 | ) | (4 | ) | (1 | ) | (3 | ) | (2 | ) | — | ||||||||||||||
Net energy-related derivative liabilities | $ | 42 | $ | 7 | $ | 11 | $ | 16 | $ | 8 | $ | 1 | |||||||||||||
(a) None of the registrants offset fair value amounts for multiple derivative instruments executed with the same counterparty on the balance sheets; therefore, gross and net amounts of derivative assets and liabilities presented on the balance sheets are the same. | |||||||||||||||||||||||||
(b) Includes gross amounts subject to netting terms that are not offset on the balance sheets and any cash/financial collateral pledged or received. | |||||||||||||||||||||||||
Derivative Contracts at December 31, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Southern | Alabama | Georgia | Gulf | Mississippi | Southern | ||||||||||||||||||||
Company | Power | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 24 | $ | 7 | $ | 5 | $ | 7 | $ | 5 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (22 | ) | (5 | ) | (5 | ) | (6 | ) | (4 | ) | — | ||||||||||||||
Net energy-related derivative assets | $ | 2 | $ | 2 | $ | — | $ | 1 | $ | 1 | $ | 1 | |||||||||||||
Liabilities | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Energy-related derivatives presented in the Balance Sheet (a) | $ | 56 | $ | 8 | $ | 21 | $ | 17 | $ | 10 | $ | 1 | |||||||||||||
Gross amounts not offset in the Balance Sheet (b) | (22 | ) | (5 | ) | (5 | ) | (6 | ) | (4 | ) | — | ||||||||||||||
Net energy-related derivative liabilities | $ | 34 | $ | 3 | $ | 16 | $ | 11 | $ | 6 | $ | 1 | |||||||||||||
(a) None of the registrants offset fair value amounts for multiple derivative instruments executed with the same counterparty on the balance sheets; therefore, gross and net amounts of derivative assets and liabilities presented on the balance sheets are the same. | |||||||||||||||||||||||||
(b) Includes gross amounts subject to netting terms that are not offset on the balance sheets and any cash/financial collateral pledged or received. | |||||||||||||||||||||||||
Pre-tax effect of unrealized derivative gains (losses) | ' | ||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, the pre-tax effects of unrealized derivative gains (losses) arising from energy-related derivative instruments designated as regulatory hedging instruments and deferred on the balance sheets were as follows: | |||||||||||||||||||||||||
Regulatory Hedge Unrealized Gain (Loss) Recognized on the Balance Sheet at September 30, 2014 | |||||||||||||||||||||||||
Derivative Category and Balance Sheet | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||||||
Location | Company | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other regulatory assets, current | $ | (27 | ) | $ | (5 | ) | $ | (10 | ) | $ | (7 | ) | $ | (5 | ) | ||||||||||
Other regulatory assets, deferred | (25 | ) | (6 | ) | (2 | ) | (12 | ) | (5 | ) | |||||||||||||||
Other regulatory liabilities, current | 9 | 4 | 1 | 2 | 2 | ||||||||||||||||||||
Other regulatory liabilities, deferred (a) | 2 | 1 | — | 1 | — | ||||||||||||||||||||
Total energy-related derivative gains (losses) | $ | (41 | ) | $ | (6 | ) | $ | (11 | ) | $ | (16 | ) | $ | (8 | ) | ||||||||||
(a) | Georgia Power includes other regulatory liabilities, deferred in other deferred credits and liabilities. | ||||||||||||||||||||||||
Regulatory Hedge Unrealized Gain (Loss) Recognized on the Balance Sheet at December 31, 2013 | |||||||||||||||||||||||||
Derivative Category and Balance Sheet | Southern | Alabama | Georgia | Gulf | Mississippi | ||||||||||||||||||||
Location | Company | Power | Power | Power | Power | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
Energy-related derivatives: | |||||||||||||||||||||||||
Other regulatory assets, current | $ | (26 | ) | $ | (3 | ) | $ | (13 | ) | $ | (6 | ) | $ | (4 | ) | ||||||||||
Other regulatory assets, deferred | (29 | ) | (5 | ) | (8 | ) | (11 | ) | (6 | ) | |||||||||||||||
Other regulatory liabilities, current | 16 | 5 | 3 | 5 | 3 | ||||||||||||||||||||
Other regulatory liabilities, deferred (a) | 7 | 2 | 2 | 2 | 2 | ||||||||||||||||||||
Total energy-related derivative gains (losses) | $ | (32 | ) | $ | (1 | ) | $ | (16 | ) | $ | (10 | ) | $ | (5 | ) | ||||||||||
(a) | Georgia Power includes other regulatory liabilities, deferred in other deferred credits and liabilities. |
Segment_and_Related_Informatio1
Segment and Related Information (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||
Financial data for business segments | ' | |||||||||||||||||||||||||||
Financial data for business segments and products and services for the three and nine months ended September 30, 2014 and 2013 was as follows: | ||||||||||||||||||||||||||||
Electric Utilities | ||||||||||||||||||||||||||||
Traditional | Southern | Eliminations | Total | All | Eliminations | Consolidated | ||||||||||||||||||||||
Operating | Power | Other | ||||||||||||||||||||||||||
Companies | ||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2014: | ||||||||||||||||||||||||||||
Operating revenues | $ | 5,007 | $ | 435 | $ | (115 | ) | $ | 5,327 | $ | 34 | $ | (22 | ) | $ | 5,339 | ||||||||||||
Segment net income (loss)(a)(b) | 658 | 64 | — | 722 | (2 | ) | (2 | ) | 718 | |||||||||||||||||||
Nine Months Ended September 30, 2014: | ||||||||||||||||||||||||||||
Operating revenues | $ | 13,594 | $ | 1,115 | $ | (301 | ) | $ | 14,408 | $ | 114 | $ | (72 | ) | $ | 14,450 | ||||||||||||
Segment net income (loss)(a)(c) | 1,557 | 128 | — | 1,685 | — | (5 | ) | 1,680 | ||||||||||||||||||||
Total assets at September 30, 2014 | $ | 62,419 | $ | 4,609 | $ | (166 | ) | $ | 66,862 | $ | 1,304 | $ | (512 | ) | $ | 67,654 | ||||||||||||
Three Months Ended September 30, 2013: | ||||||||||||||||||||||||||||
Operating revenues | $ | 4,744 | $ | 365 | $ | (104 | ) | $ | 5,005 | $ | 35 | $ | (23 | ) | $ | 5,017 | ||||||||||||
Segment net income (loss)(a)(b) | 765 | 85 | — | 850 | (1 | ) | 3 | 852 | ||||||||||||||||||||
Nine Months Ended September 30, 2013: | ||||||||||||||||||||||||||||
Operating revenues | $ | 12,430 | $ | 975 | $ | (285 | ) | $ | 13,120 | $ | 108 | $ | (68 | ) | $ | 13,160 | ||||||||||||
Segment net income (loss)(a)(c) | 1,099 | 142 | — | 1,241 | (12 | ) | 1 | 1,230 | ||||||||||||||||||||
Total assets at December 31, 2013 | $ | 59,447 | $ | 4,429 | $ | (101 | ) | $ | 63,775 | $ | 1,077 | $ | (306 | ) | $ | 64,546 | ||||||||||||
(a) After dividends on preferred and preference stock of subsidiaries. | ||||||||||||||||||||||||||||
(b) Segment net income (loss) for the traditional operating companies for the three months ended September 30, 2014 and September 30, 2013 includes a $418.0 million pre-tax charge ($258.1 million after tax) and a $150.0 million pre-tax charge ($92.6 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information. | ||||||||||||||||||||||||||||
(c) Segment net income (loss) for the traditional operating companies for the nine months ended September 30, 2014 and September 30, 2013 includes $798.0 million in pre-tax charges ($492.8 million after tax) and $1.14 billion in pre-tax charges ($704.0 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle – Kemper IGCC Schedule and Cost Estimate" herein for additional information. | ||||||||||||||||||||||||||||
Financial data for products and services | ' | |||||||||||||||||||||||||||
Products and Services | ||||||||||||||||||||||||||||
Electric Utilities' Revenues | ||||||||||||||||||||||||||||
Period | Retail | Wholesale | Other | Total | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | $ | 4,558 | $ | 600 | $ | 169 | $ | 5,327 | ||||||||||||||||||||
Three Months Ended September 30, 2013 | 4,319 | 520 | 166 | 5,005 | ||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | $ | 12,186 | $ | 1,719 | $ | 503 | $ | 14,408 | ||||||||||||||||||||
Nine Months Ended September 30, 2013 | 11,237 | 1,406 | 477 | 13,120 | ||||||||||||||||||||||||
Introduction_Asset_Retirement_
Introduction - Asset Retirement Obligations (Details) (Alabama Power [Member], USD $) | 1 Months Ended | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | |
Alabama Power [Member] | ' | ' | ' |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ' |
Balance at beginning of year | ' | $730,000,000 | $589,000,000 |
Liabilities incurred | ' | 0 | 0 |
Liabilities settled | ' | -2,000,000 | 0 |
Accretion | ' | 33,000,000 | 29,000,000 |
Cash flow revisions | 52,000,000 | 52,000,000 | 102,000,000 |
Balance at end of period | $813,000,000 | $813,000,000 | $720,000,000 |
Introduction_Narrative_Details
Introduction - Narrative (Details) (Southern Power [Member], USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Southern Power [Member] | ' |
Public Utility, Property, Plant and Equipment [Line Items] | ' |
Public Utilities, Property, Plant and Equipment, Plant in Service | $470 |
Contingencies_and_Regulatory_M2
Contingencies and Regulatory Matters - Retail Regulatory Matters (Details) (Alabama Power [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Loss Contingencies [Line Items] | ' | ' |
Under recovered rate CNP environmental balance, deferred | $0 | $7,000,000 |
Under recovered rate CNP environmental balance, current | 25,000,000 | 0 |
Under recovered rate CNP PPA, deferred | 46,000,000 | 18,000,000 |
Under recovered rate CNP PPA, current | 9,000,000 | 0 |
Retail energy cost recovery - over, current | 49,000,000 | 37,000,000 |
Retail energy cost recovery - over, deferred | 0 | 15,000,000 |
Natural disaster reserve | 87,000,000 | 96,000,000 |
Fuel Recovery Clause [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Retail energy cost recovery - over, current | 44,000,000 | 27,000,000 |
Retail energy cost recovery - over, deferred | $0 | $15,000,000 |
Contingencies_and_Regulatory_M3
Contingencies and Regulatory Matters - Cost Recovery Clause (Details) (Gulf Power [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Loss Contingencies [Line Items] | ' | ' |
Fuel Cost Recovery b Under | $41.30 | ' |
Under Recovered Regulatory Clause Revenues [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Fuel Cost Recovery b Under | 41.3 | 21 |
Purchased Power Capacity Recovery b Under | 0 | 2.8 |
Environmental Cost Recovery b Under | 6.3 | 14.4 |
Energy Conservation Cost Recovery b Under | 2.6 | 7 |
Other regulatory liabilities current [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Purchased Power Capacity Recovery b Over | $6.80 | $0 |
Contingencies_and_Regulatory_M4
Contingencies and Regulatory Matters - Current And Actual Cost Estimate (Details) (Kemper Igcc [Member], Mississippi Power [Member], USD $) | 9 Months Ended | 12 Months Ended | |
In Billions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2012 | |
Loss Contingencies [Line Items] | ' | ' | |
Estimated Cost | $4.06 | [1] | $2.88 |
Lignite Mine and Equipment | 0.23 | ' | |
CO2 Pipeline Facilities | 0.1 | ' | |
AFUDC | 0.41 | [2],[3] | ' |
Combined Cycle and Related Assets Placed in Service - Incremental | 0 | [4] | ' |
General Exceptions | 0.07 | ' | |
Regulatory Asset | 0.1 | [2],[5] | ' |
Total Kemper IGCC | 4.97 | [1],[2] | ' |
Project Estimate [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Estimated Cost | 2.4 | [1],[6] | ' |
Lignite Mine and Equipment | 0.21 | [6] | ' |
CO2 Pipeline Facilities | 0.14 | [6] | ' |
AFUDC | 0.17 | [2],[3],[6] | ' |
Combined Cycle and Related Assets Placed in Service - Incremental | 0 | [4],[6] | ' |
General Exceptions | 0.05 | [6] | ' |
Regulatory Asset | 0 | [2],[5],[6] | ' |
Total Kemper IGCC | 2.97 | [1],[2],[6] | ' |
Current Estimate [Member] | ' | ' | |
Loss Contingencies [Line Items] | ' | ' | |
Estimated Cost | 4.86 | [1] | ' |
Lignite Mine and Equipment | 0.23 | ' | |
CO2 Pipeline Facilities | 0.11 | ' | |
AFUDC | 0.62 | [2],[3] | ' |
Combined Cycle and Related Assets Placed in Service - Incremental | 0 | [4] | ' |
General Exceptions | 0.1 | ' | |
Regulatory Asset | 0.18 | [2],[5] | ' |
Total Kemper IGCC | $6.10 | [1],[2] | ' |
[1] | The 2012 MPSC CPCN Order approved a construction cost cap of up to $2.88 billion, net of the DOE Grants and excluding the Cost Cap Exceptions. The Current Estimate and Actual Costs include non-incremental operating and maintenance costs related to the combined cycle and associated common facilities placed in service in August 2014 that are subject to the $2.88 billion cost cap. | ||
[2] | Amounts in the Current Estimate reflect costs through March 31, 2016. | ||
[3] | Mississippi Power's original estimate included recovery of financing costs during construction rather than the accrual of AFUDC. This approach was not approved by the Mississippi PSC in 2012 as described in "Rate Recovery of Kemper IGCC Costs." | ||
[4] | Incremental operating and maintenance costs related to the combined cycle and associated common facilities placed in service on August 9, 2014, net of costs related to energy sales. | ||
[5] | The 2012 MPSC CPCN Order approved deferral of non-capital Kemper IGCC-related costs during construction as described in "Rate Recovery of Kemper IGCC Costs b Regulatory Assets and Liabilities." | ||
[6] | The 2010 Project Estimate is the certificated cost estimate adjusted to include the certificated estimate for the CO2 pipeline facilities which was approved in 2011 by the Mississippi PSC. |
Contingencies_and_Regulatory_M5
Contingencies and Regulatory Matters - Narrative (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 19 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Aug. 28, 2014 | 20-May-14 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Jan. 01, 2014 | Jan. 01, 2013 | Jan. 01, 2012 | Jan. 01, 2011 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 01, 2014 | 20-May-14 | Jan. 31, 2014 | Mar. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 01, 2014 | 6-May-14 | Apr. 01, 2014 | Jan. 02, 2014 | Dec. 31, 2010 | Sep. 30, 2014 | Sep. 30, 2014 | Jan. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2012 | 20-May-14 | Jan. 10, 2014 | Feb. 28, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Aug. 01, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Aug. 09, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2010 | Aug. 01, 2014 | Sep. 30, 2014 | Aug. 01, 2014 | Aug. 01, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Oct. 31, 2014 | Oct. 03, 2014 | Oct. 22, 2014 | Oct. 17, 2014 | Oct. 09, 2014 | Nov. 06, 2014 | Oct. 06, 2014 | Oct. 06, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | |||
Alabama Power [Member] | Alabama Power [Member] | Alabama Power [Member] | Alabama Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Gulf Power and Mississippi Power [Member] | Gulf Power and Mississippi Power [Member] | Wind Farm [Member] | Plant Mitchell Unit 3 [Member] | Electricity Generation Plant, Non-Nuclear [Member] | Electricity Generation Plant, Non-Nuclear [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Mine [Member] | Plant Watson Units 4 And 5 [Member] | Plant Greene County Units 1 And 2 [Member] | Plant Greene County Units 1 And 2 [Member] | Plant Sweatt Units 1 And 2 [Member] | Other deferred charges and assets [Member] | Current Liabilities And Other Deferred Credits And Liabilities [Member] | Construction in Progress [Member] | Storm Reserve [Member] | Storm Reserve [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Non-Affiliate Capital Lease PPA [Member] | Non-Affiliate Operating Lease PPA [Member] | Current Estimate [Member] | ||||
WindFarms | Minimum [Member] | Maximum [Member] | clause | Minimum [Member] | Maximum [Member] | Maximum [Member] | Georgia Power [Member] | Georgia Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Mississippi Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Gulf Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Kemper IGCC [Member] | Kemper IGCC [Member] | Georgia Power [Member] | Georgia Power [Member] | Kemper IGCC [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Purchased_Power_Agreement | MW | MW | MW | Minimum [Member] | Maximum [Member] | MW | MW | MW | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingencies and Regulatory Matters (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Civil penalties under Clean Air Act, per day, per violation, minimum | $25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Civil penalties under Clean Air Act, per day, per violation, maximum | 37,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Environmental remediation liability | ' | ' | ' | ' | ' | ' | ' | 19,000,000 | ' | 19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 49,500,000 | ' | 49,500,000 | ' | ' | ' | ' | ' | ' | 600,000 | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Civil penalties per day violation rate | ' | ' | ' | ' | ' | ' | ' | 37,500 | ' | 37,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of times of punitive damages in comparison to cost incurred by Environmental Protection Agency | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Damages awarded | ' | ' | ' | 17,000,000 | ' | ' | ' | ' | ' | 27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Increase in base rate under cost based electric tariff due to settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Traditional Base Tariffs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 107,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Environmental Compliance Cost Recovery Tariff | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Demand-Side Management Tariffs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Municipal Franchise Fee Tariff | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number Of Wind PPAs | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number Of Wind Farms | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Electric Generating Units, Capacity (in MW's) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250 | 155 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75 | ' | ' | ' | 750 | ' | 200 | 80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Capital Leases, Future Minimum Payments Due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 641,000,000 | ' | ' | ||
Increase In Operating Leases Future Minimum Payments Due | ' | ' | ' | ' | ' | ' | ' | 103,000,000 | ' | 103,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating Leases, Future Minimum Payments, Due in 2015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 113,000,000 | ' | ||
Operating Leases, Future Minimum Payments, Due in 2016 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,000,000 | ' | ||
Operating Leases, Future Minimum Payments, Due in 2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 145,000,000 | ' | ||
Operating Leases, Future Minimum Payments, Due in 2018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ||
Operating Leases, Future Minimum Payments, Due in 2019 and Thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000,000 | ' | ||
Over recovered fuel cost balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175,000,000 | 58,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104,300,000 | ' | 104,300,000 | ' | ' | 104,300,000 | ' | ' | ' | ' | ' | ' | 5,500,000 | ' | ' | ' | ' | ' | 105,000,000 | 37,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Projected Balance Of Regulatory Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 180,000,000 | ' | 180,000,000 | ' | ' | 180,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Proportionate share owed in consortium agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Increase In NCCR Tariff | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | 50,000,000 | 35,000,000 | 223,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Amortization to earnings of financing costs capitalized over the five year period | ' | ' | ' | ' | ' | ' | ' | 91,000,000 | ' | 91,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Amortization to earnings of financing costs capitalized, amortization term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Costs included in CWIP | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | ' | 23,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Increase (decrease) in projected certified construction capital costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Estimated In-service Capital Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,400,000,000 | 4,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cost incurred on plant including regulatory filing costs | ' | ' | ' | ' | ' | ' | ' | 2,000,000,000 | ' | 2,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Construction Capital Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Approval Of All Costs By The PSC | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reduction in projected in-service cost due to recovered cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 425,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reduction In Depreciation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reduction In Depreciation Expense Year One | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number Of Regulatory Clauses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Annual Retail Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,200,000 | 6,700,000 | ' | ' | ' | ' | ' | ' | ' | ||
Projected Fuel Cost Over Or Under Recovery Threshold As Percentage Of Projected Fuel Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Under recovered regulatory clause revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,300,000 | ' | 41,300,000 | ' | ' | ' | ' | ' | ' | 13,100,000 | ' | 13,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Psc Approved Annual Property Damage Reserve Accrual | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Ownership percentage in scrubber project | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Estimated cost of scrubber project | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 330,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 660,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Scrubber project expenditures amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 236,300,000 | ' | 236,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 464,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Allowance For Funds Used During Construction Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Over Recovered Fuel Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Percentage Of PSC Retail Rate Increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
PSC Retail Rate Increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Estimated Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,060,000,000 | [1] | ' | 2,880,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,860,000,000 | [1] |
Costs associated with CCP12 grant funds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 245,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Costs included in CWIP | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | ' | 23,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Loss Contingency, Estimate of Possible Loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,980,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cost deferred in other regulatory assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104,300,000 | ' | 104,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Other deferred charges and assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,900,000 | ' | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Previously expensed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Pre-tax charge to income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 418,000,000 | 380,000,000 | 150,000,000 | 798,000,000 | 1,140,000,000 | 1,180,000,000 | ' | 418,000,000 | 380,000,000 | ' | 1,180,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
After tax charge to income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 258,100,000 | 234,700,000 | 92,600,000 | 492,800,000 | 704,000,000 | 728,700,000 | ' | 258,100,000 | 234,700,000 | ' | 728,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Costs Due To Extension Of In-service Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Period Rate Plan For Cost Accrued Through Additional Prudence Review | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Maximum Cap Construction Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,970,000,000 | [1],[2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,100,000,000 | [1],[2] |
Alternate Financing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Settlement Agreement To Increase Rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 172,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Increase Retail Rates In Year One | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Increase Retail Rates In Year Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Settlement Agreement Collection Amount To Mitigate Rate Impact Year Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 156,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Regulatory Liabilities For Plant Construction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 121,900,000 | ' | ' | 220,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Retail Revenues | ' | 1,512,000,000 | 1,438,000,000 | 4,058,000,000 | 3,800,000,000 | ' | ' | 2,452,000,000 | 2,314,000,000 | 6,502,000,000 | 5,922,000,000 | ' | ' | ' | ' | ' | ' | ' | 365,971,000 | 335,916,000 | 979,435,000 | 901,343,000 | ' | ' | ' | ' | ' | 228,331,000 | 230,710,000 | 646,695,000 | 613,274,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,800,000 | ' | ' | 27,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reduced percentage interest transferred under asset purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Revenue Requirement Obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 130,000,000 | 160,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Revisions To Revenue Requirement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | 70,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Amortization Period For Construction Project | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '40 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Term of Management Fee Contract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '40 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Percentage of Carbon Dioxide Captured from Project | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70.00% | ' | 70.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Percentage of Contract to Purchase Carbon Dioxide from Project | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Purchase of Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.50% | ' | ' | ' | ' | 17.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ||
Capacity Revenues Under Power Supply Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Deposit received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Maximum period of discretion in the event senior unsecured credit rating falls | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Acquisition Period For SMEPA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ||
Interest Bearing Refundable Deposit Related to Asset Sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | 75,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | 50,000,000 | ' | ' | ' | ' | ' | ||
Internal Revenue Code Section Forty Eight Tax Credits Phase I I | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 279,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Tax Credit Carryforward, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 276,400,000 | ' | 276,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Tax Credit Carryforward, Utilized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140,000,000 | ' | 140,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Minimum percentage of carbon dioxide that must be capture and sequester to remain eligible for the phase II tax credits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Additional Bonus Depreciation For Property Acquired Future Periods | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Positive Impact From Bonus Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Period Of Refraining From Intervening In Regulatory Proceedings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Grant For Energy Efficiency And Renewable Program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Period Of Grant For Energy Efficiency and Renewable Program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Conservation Fund | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Funds Paid Towards Energy Efficiency And Renewable Program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The 2012 MPSC CPCN Order approved a construction cost cap of up to $2.88 billion, net of the DOE Grants and excluding the Cost Cap Exceptions. The Current Estimate and Actual Costs include non-incremental operating and maintenance costs related to the combined cycle and associated common facilities placed in service in August 2014 that are subject to the $2.88 billion cost cap. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Amounts in the Current Estimate reflect costs through March 31, 2016. |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) (USD $) | Sep. 30, 2014 | |
In Millions, unless otherwise specified | ||
Fair Value, Measurements, Recurring [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | $12 | |
Nuclear decommissioning trusts | 1,509 | [1] |
Cash equivalents | 955 | |
Other investments | 10 | |
Total | 2,486 | |
Liabilities: | ' | |
Energy-related derivatives | 53 | |
Interest rate derivatives | 2 | |
Total | 55 | |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Nuclear decommissioning trusts | 632 | [1] |
Cash equivalents | 955 | |
Other investments | 9 | |
Total | 1,596 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Interest rate derivatives | 0 | |
Total | 0 | |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 12 | |
Nuclear decommissioning trusts | 875 | [1] |
Cash equivalents | 0 | |
Other investments | 0 | |
Total | 887 | |
Liabilities: | ' | |
Energy-related derivatives | 53 | |
Interest rate derivatives | 2 | |
Total | 55 | |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Nuclear decommissioning trusts | 2 | [1] |
Cash equivalents | 0 | |
Other investments | 1 | |
Total | 3 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Interest rate derivatives | 0 | |
Total | 0 | |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 5 | |
Cash equivalents | 543 | |
Total | 1,285 | |
Liabilities: | ' | |
Energy-related derivatives | 11 | |
Interest rate derivatives | 1 | |
Total | 12 | |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 477 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 99 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 34 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 98 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 19 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 10 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 543 | |
Total | 976 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Interest rate derivatives | 0 | |
Total | 0 | |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 399 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 34 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 5 | |
Cash equivalents | 0 | |
Total | 307 | |
Liabilities: | ' | |
Energy-related derivatives | 11 | |
Interest rate derivatives | 1 | |
Total | 12 | |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 78 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 65 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 34 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 98 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 19 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 8 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 0 | |
Total | 2 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Interest rate derivatives | 0 | |
Total | 0 | |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2] |
Alabama Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 2 | [2] |
Georgia Power [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 58 | |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 1 | |
Total | 773 | |
Liabilities: | ' | |
Energy-related derivatives | 12 | |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 193 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 132 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 126 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Municipal bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 25 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 169 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 114 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 13 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Total | 199 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 191 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Municipal bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 8 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 1 | |
Total | 574 | |
Liabilities: | ' | |
Energy-related derivatives | 12 | |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 2 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 132 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 126 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Municipal bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 25 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 169 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 114 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 5 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Total | 0 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Domestic Equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Foreign equity [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury and government agency securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Municipal bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate bonds [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage and asset backed securities [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Georgia Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other investments [Member] | ' | |
Assets: | ' | |
Nuclear decommissioning trusts | 0 | [2],[3] |
Gulf Power [Member] | Fair Value, Measurements, Recurring [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 3 | |
Cash equivalents | 18 | |
Total | 21 | |
Liabilities: | ' | |
Energy-related derivatives | 19 | |
Gulf Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 18 | |
Total | 18 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Gulf Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 3 | |
Cash equivalents | 0 | |
Total | 3 | |
Liabilities: | ' | |
Energy-related derivatives | 19 | |
Gulf Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 0 | |
Total | 0 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Mississippi Power [Member] | Fair Value, Measurements, Recurring [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 2 | |
Cash equivalents | 45 | |
Total | 47 | |
Liabilities: | ' | |
Energy-related derivatives | 10 | |
Mississippi Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 45 | |
Total | 45 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Mississippi Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 2 | |
Cash equivalents | 0 | |
Total | 2 | |
Liabilities: | ' | |
Energy-related derivatives | 10 | |
Mississippi Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 0 | |
Total | 0 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Southern Power [Member] | Fair Value, Measurements, Recurring [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 1 | |
Cash equivalents | 80 | |
Total | 81 | |
Liabilities: | ' | |
Energy-related derivatives | 1 | |
Southern Power [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 80 | |
Total | 80 | |
Liabilities: | ' | |
Energy-related derivatives | 0 | |
Southern Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 1 | |
Cash equivalents | 0 | |
Total | 1 | |
Liabilities: | ' | |
Energy-related derivatives | 1 | |
Southern Power [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | |
Assets: | ' | |
Energy-related derivatives | 0 | |
Cash equivalents | 0 | |
Total | 0 | |
Liabilities: | ' | |
Energy-related derivatives | $0 | |
[1] | For additional detail, see the nuclear decommissioning trusts sections for Alabama Power and Georgia Power in this table. | |
[2] | Excludes receivables related to investment income, pending investment sales, and payables related to pending investment purchases. | |
[3] | Includes the investment securities pledged to creditors and cash collateral received and excludes payables related to the securities lending program. As of September 30, 2014, approximately $58 million of the fair market value of Georgia Power's nuclear decommissioning trust funds' securities were on loan and pledged to creditors under the funds' managers' securities lending program. |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value Measurements Calculated at Net Asset Value Per Share (Details) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Foreign equity funds [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | $132,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Monthly |
Redemption Notice Period | '5 days |
Redemption Notice Period, Description | '5 days |
Foreign equity funds [Member] | Georgia Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 132,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Monthly |
Redemption Notice Period | '5 days |
Redemption Notice Period, Description | '5 days |
Equity - commingled funds [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 65,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily/Monthly |
Redemption Notice Period | '7 days |
Redemption Notice Period, Description | 'Daily/7B days |
Equity - commingled funds [Member] | Alabama Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 65,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily/Monthly |
Redemption Notice Period | '7 days |
Redemption Notice Period, Description | 'Daily/7B days |
Other - commingled funds [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 5,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Other - commingled funds [Member] | Georgia Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 5,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Other - money market funds [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 8,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Other - money market funds [Member] | Georgia Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 8,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Trust owned life insurance [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 112,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period | '15 days |
Redemption Notice Period, Description | '15 days |
Trust owned life insurance [Member] | Alabama Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 112,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period | '15 days |
Redemption Notice Period, Description | '15 days |
Money market funds [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 955,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'NotB applicable |
Money market funds [Member] | Alabama Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 543,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Money market funds [Member] | Gulf Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 18,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Money market funds [Member] | Mississippi Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 45,000,000 |
Unfunded Commitments | 0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Money market funds [Member] | Southern Power [Member] | ' |
Fair value measurements of investments calculated at net asset value per share as well as the nature and risk of those investments | ' |
Fair Value | 80,000,000 |
Unfunded Commitments | $0 |
Redemption Frequency | 'Daily |
Redemption Notice Period, Description | 'Not applicable |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Instruments for which Carrying Amount did not Equal Fair Value (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Southern Company [Member] | ' |
Long-term debt: | ' |
Long-term debt, Carrying Amount | $23,936 |
Long-term debt, Fair Value | 25,318 |
Alabama Power [Member] | ' |
Long-term debt: | ' |
Long-term debt, Carrying Amount | 6,625 |
Long-term debt, Fair Value | 7,195 |
Georgia Power [Member] | ' |
Long-term debt: | ' |
Long-term debt, Carrying Amount | 9,597 |
Long-term debt, Fair Value | 10,167 |
Gulf Power [Member] | ' |
Long-term debt: | ' |
Long-term debt, Carrying Amount | 1,444 |
Long-term debt, Fair Value | 1,517 |
Mississippi Power [Member] | ' |
Long-term debt: | ' |
Long-term debt, Carrying Amount | 2,365 |
Long-term debt, Fair Value | 2,397 |
Southern Power [Member] | ' |
Long-term debt: | ' |
Long-term debt, Carrying Amount | 1,629 |
Long-term debt, Fair Value | $1,745 |
Fair_Value_Measurements_Narrat
Fair Value Measurements - Narrative (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 |
Fair Value Measurements (Textual) [Abstract] | ' | ' |
Increase (decrease) in fair value of funds including reinvested interest and dividends | ($13) | $70 |
Alabama Power [Member] | ' | ' |
Fair Value Measurements (Textual) [Abstract] | ' | ' |
Increase (decrease) in fair value of funds including reinvested interest and dividends | -8 | 39 |
Georgia Power [Member] | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Notices Of Withdrawal Foreign Equity Funds | 20.00% | 20.00% |
Maximum Number of Months Related to Maturities in Portfolio Not to Exceeded from Date of Purchase | ' | '13 months |
Maximum Number of Days Related to Dollar Weighted Average Portfolio Maturities Regarding Commingled Funds | ' | '60 days |
Commingled Funds | 5 | 5 |
Fair Value Measurements (Textual) [Abstract] | ' | ' |
Increase (decrease) in fair value of funds including reinvested interest and dividends | -5 | 31 |
Minimum [Member] | Georgia Power [Member] | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Withdrawal Of Foreign Equity Fund Investment | 1 | 1 |
Foreign Equity Fund Investment | $10 | $10 |
Other - commingled funds [Member] | Georgia Power [Member] | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' |
Maximum Number of Days Related to Dollar Weighted Average Portfolio Maturities Regarding Commingled Funds | ' | '90 days |
Stockholders_Equity_Earnings_p
Stockholders' Equity - Earnings per Share (Details) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings per Share | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 16 | 16 | 17 | 1 |
Southern Company [Member] | ' | ' | ' | ' |
Earnings per Share | ' | ' | ' | ' |
As reported shares | 898 | 878 | 894 | 874 |
Effect of options and performance share award units | 4 | 3 | 4 | 5 |
Diluted shares | 902 | 881 | 898 | 879 |
Stockholders_Equity_Changes_in
Stockholders' Equity - Changes in Stockholders' Equity (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||||||||||
Share data in Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | ||||
Number of Common shares Issued [Member] | Number of Common shares Issued [Member] | Number of Common shares Treasury [Member] | Number of Common shares Treasury [Member] | Common Stockholders' Equity [Member] | Common Stockholders' Equity [Member] | Preferred and Preference Stock of Subsidiaries [Member] | Preferred and Preference Stock of Subsidiaries [Member] | Preferred and Preference Stock of Subsidiaries [Member] | |||||||||
Changes in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Beginning Balance | ' | ' | $19,764,000,000 | $19,004,000,000 | ' | ' | ' | ' | $19,008,000,000 | $18,297,000,000 | $707,000,000 | $756,000,000 | $756,000,000 | ||||
Beginning Balance, Shares | ' | ' | ' | ' | 892,733 | 877,803 | 5,647 | 10,035 | ' | ' | ' | ' | ' | ||||
Net income after dividends on preferred and preference stock | 718,000,000 | [1],[2] | 852,000,000 | [1],[2] | 1,680,000,000 | [1],[3] | 1,230,000,000 | [1],[3] | ' | ' | ' | ' | 1,680,000,000 | 1,230,000,000 | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | 6,000,000 | 11,000,000 | ' | ' | ' | ' | 6,000,000 | 11,000,000 | ' | ' | ' | ||||
Treasury stock re-issued, Shares | ' | ' | ' | ' | ' | ' | 4,996 | 1,956 | ' | ' | ' | ' | ' | ||||
Treasury stock re-issued | ' | ' | 225,000,000 | 89,000,000 | ' | ' | ' | ' | 225,000,000 | 89,000,000 | ' | ' | ' | ||||
Stock issued, Shares | ' | ' | ' | ' | 7,781 | 12,046 | ' | ' | ' | ' | ' | ' | ' | ||||
Stock issued | ' | ' | 332,000,000 | 533,000,000 | ' | ' | ' | ' | 332,000,000 | 484,000,000 | 49,000,000 | ' | ' | ||||
Stock repurchased, at cost | ' | ' | -5,000,000 | -19,000,000 | ' | ' | ' | ' | -5,000,000 | -19,000,000 | ' | ' | ' | ||||
Cash dividends on common stock | ' | ' | -1,390,000,000 | -1,314,000,000 | ' | ' | ' | ' | -1,390,000,000 | -1,314,000,000 | ' | ' | ' | ||||
Other, Shares | ' | ' | ' | ' | ' | ' | -51 | -30 | ' | ' | ' | ' | ' | ||||
Other | ' | ' | 1,000,000 | 0 | ' | ' | ' | ' | 1,000,000 | 0 | ' | ' | ' | ||||
Ending Balance | $20,613,000,000 | $19,534,000,000 | $20,613,000,000 | $19,534,000,000 | ' | ' | ' | ' | $19,857,000,000 | $18,778,000,000 | $756,000,000 | $756,000,000 | $756,000,000 | ||||
Ending Balance, Shares | ' | ' | ' | ' | 900,514 | 889,849 | 702 | 8,109 | ' | ' | ' | ' | ' | ||||
[1] | After dividends on preferred and preference stock of subsidiaries. | ||||||||||||||||
[2] | Segment net income (loss) for the traditional operating companies for the three months ended September 30, 2014 and September 30, 2013 includes a $418.0 million pre-tax charge ($258.1 million after tax) and a $150.0 million pre-tax charge ($92.6 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle b Kemper IGCC Schedule and Cost Estimate" herein for additional information. | ||||||||||||||||
[3] | Segment net income (loss) for the traditional operating companies for the nine months ended September 30, 2014 and September 30, 2013 includes $798.0 million in pre-tax charges ($492.8 million after tax) and $1.14 billion in pre-tax charges ($704.0 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle b Kemper IGCC Schedule and Cost Estimate" herein for additional information. |
Financing_Schedule_of_Credit_A
Financing - Schedule of Credit Arrangements (Details) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | $105 |
Expires, 2015 | 408 |
Expires, 2016 | 530 |
Expires, 2017 | 30 |
Expires, 2018 | 4,130 |
Total | 5,203 |
Unused | 5,188 |
Executable Term Loans, One Year | 153 |
Executable Term Loans, Two Years | 40 |
Due Within One Year, Term Out | 193 |
Due Within One Year, No Term Out | 320 |
Southern Company [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | 0 |
Expires, 2015 | 0 |
Expires, 2016 | 0 |
Expires, 2017 | 0 |
Expires, 2018 | 1,000 |
Total | 1,000 |
Unused | 1,000 |
Executable Term Loans, One Year | 0 |
Executable Term Loans, Two Years | 0 |
Due Within One Year, Term Out | 0 |
Due Within One Year, No Term Out | 0 |
Alabama Power [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | 70 |
Expires, 2015 | 158 |
Expires, 2016 | 50 |
Expires, 2017 | 0 |
Expires, 2018 | 1,030 |
Total | 1,308 |
Unused | 1,308 |
Executable Term Loans, One Year | 58 |
Executable Term Loans, Two Years | 0 |
Due Within One Year, Term Out | 58 |
Due Within One Year, No Term Out | 170 |
Georgia Power [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | 0 |
Expires, 2015 | 0 |
Expires, 2016 | 150 |
Expires, 2017 | 0 |
Expires, 2018 | 1,600 |
Total | 1,750 |
Unused | 1,736 |
Executable Term Loans, One Year | 0 |
Executable Term Loans, Two Years | 0 |
Due Within One Year, Term Out | 0 |
Due Within One Year, No Term Out | 0 |
Gulf Power [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | 20 |
Expires, 2015 | 60 |
Expires, 2016 | 165 |
Expires, 2017 | 30 |
Expires, 2018 | 0 |
Total | 275 |
Unused | 275 |
Executable Term Loans, One Year | 50 |
Executable Term Loans, Two Years | 0 |
Due Within One Year, Term Out | 50 |
Due Within One Year, No Term Out | 30 |
Mississippi Power [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | 15 |
Expires, 2015 | 120 |
Expires, 2016 | 165 |
Expires, 2017 | 0 |
Expires, 2018 | 0 |
Total | 300 |
Unused | 300 |
Executable Term Loans, One Year | 25 |
Executable Term Loans, Two Years | 40 |
Due Within One Year, Term Out | 65 |
Due Within One Year, No Term Out | 70 |
Southern Power [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | 0 |
Expires, 2015 | 0 |
Expires, 2016 | 0 |
Expires, 2017 | 0 |
Expires, 2018 | 500 |
Total | 500 |
Unused | 499 |
Executable Term Loans, One Year | 0 |
Executable Term Loans, Two Years | 0 |
Due Within One Year, Term Out | 0 |
Due Within One Year, No Term Out | 0 |
Other Subsidiaries [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Expires, 2014 | 0 |
Expires, 2015 | 70 |
Expires, 2016 | 0 |
Expires, 2017 | 0 |
Expires, 2018 | 0 |
Total | 70 |
Unused | 70 |
Executable Term Loans, One Year | 20 |
Executable Term Loans, Two Years | 0 |
Due Within One Year, Term Out | 20 |
Due Within One Year, No Term Out | $50 |
Financing_Schedule_of_LongTerm
Financing - Schedule of Long-Term Debt Financing Activities (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | $1,350 | |
Senior Note Maturities | 350 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 82 | [1] |
Revenue Bond Redemptions | 66 | |
Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 1,283 | |
Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 22 | [2] |
Southern Company [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 750 | |
Senior Note Maturities | 350 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 0 | [1] |
Revenue Bond Redemptions | 0 | |
Southern Company [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 0 | |
Southern Company [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 0 | [2] |
Alabama Power [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 400 | |
Senior Note Maturities | 0 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 0 | [1] |
Revenue Bond Redemptions | 0 | |
Alabama Power [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 0 | |
Alabama Power [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 0 | [2] |
Georgia Power [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 0 | |
Senior Note Maturities | 0 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 40 | [1] |
Revenue Bond Redemptions | 37 | |
Remarketing Revenue Bond | 40 | |
Georgia Power [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 1,000 | |
Georgia Power [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 4 | [2] |
Gulf Power [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 200 | |
Senior Note Maturities | 0 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 42 | [1] |
Revenue Bond Redemptions | 29 | |
Remarketing Revenue Bond | 13 | |
Gulf Power [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 0 | |
Gulf Power [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 0 | [2] |
Mississippi Power [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 0 | |
Senior Note Maturities | 0 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 0 | [1] |
Revenue Bond Redemptions | 0 | |
Mississippi Power [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 493 | |
Mississippi Power [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 222 | [2] |
Southern Power [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 0 | |
Senior Note Maturities | 0 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 0 | [1] |
Revenue Bond Redemptions | 0 | |
Southern Power [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 10 | |
Southern Power [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 1 | [2] |
Other Subsidiaries [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 0 | |
Senior Note Maturities | 0 | |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 0 | [1] |
Revenue Bond Redemptions | 0 | |
Other Subsidiaries [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 0 | |
Other Subsidiaries [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | 15 | [2] |
Consolidation, Eliminations [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Senior Note Issuances | 0 | [3] |
Senior Note Maturities | 0 | [3] |
Revenue Bond Issuances and Remarketings of Purchased Bonds | 0 | [1],[3] |
Revenue Bond Redemptions | 0 | [3] |
Consolidation, Eliminations [Member] | Debt Issuances [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | -220 | [3] |
Consolidation, Eliminations [Member] | Debt Redemptions [Member] | ' | |
Debt Instrument [Line Items] | ' | |
Other Long-Term Debt | ($220) | [2],[3] |
[1] | Includes remarketing by Gulf Power of $13 million aggregate principal amount of revenue bonds previously purchased and held by Gulf Power since December 2013 and remarketing by Georgia Power of $40 million aggregate principal amount of revenue bonds previously purchased and held by Georgia Power since 2010. | |
[2] | Includes reductions in capital lease obligations resulting from cash payments under capital leases. | |
[3] | Intercompany loan from Southern Company to Mississippi Power eliminated in Southern Company's Condensed Consolidated Financial Statements. This loan was repaid on September 29, 2014. |
Financing_Narrative_Details
Financing - Narrative (Details) (USD $) | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | Aug. 01, 2014 | Aug. 01, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Aug. 01, 2014 | Feb. 20, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Feb. 20, 2014 | Jul. 31, 2014 | Feb. 20, 2014 | Feb. 20, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2014 | Apr. 01, 2014 | Apr. 01, 2014 | 31-May-14 | Jan. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Aug. 31, 2014 | 31-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Feb. 20, 2014 | Oct. 01, 2014 | Oct. 01, 2014 | Oct. 09, 2014 | Nov. 06, 2014 | |||||||
Senior Notes [Member] | Senior Notes [Member] | Traditional Operating Companies [Member] | Alabama Power [Member] | Alabama Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Southern Power [Member] | Southern Power [Member] | Southern Power [Member] | Southern Power [Member] | Southern Power [Member] | Plant Vogtle Units 3 And 4 [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||||
Series 2014A [Member] | Series 2014B [Member] | Senior Notes [Member] | FIrst Series 2009 [Member] | Line of Credit [Member] | Line of Credit [Member] | Series 2012 [Member] | Senior Notes [Member] | Debt Issuances [Member] | Debt Redemptions [Member] | Series 2013A [Member] | Series 2013A [Member] | Debt Due April 30, 2034 [Member] | Debt Due May 31, 2034 [Member] | Debt Due April 30, 2033 [Member] | Debt Due June 15, 2032 [Member] | Georgia Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | |||||||||||||||||||||
Series 2014A [Member] | Debt Due 2044 [Member] | Debt Due 2029 [Member] | Series 2014A [Member] | Series K [Member] | Senior Notes [Member] | ||||||||||||||||||||||||||||||||||||
Series K [Member] | |||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Amount of Fixed Rate Pollution Control Revenue Bonds Outstanding Requiring Liquidity Support | $1,800,000,000 | ' | ' | $423,000,000 | ' | ' | ' | $98,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Face Amount | ' | 400,000,000 | 350,000,000 | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | 500,000,000 | 500,000,000 | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Interest Rate, Stated Percentage | ' | 1.30% | 2.15% | ' | ' | 4.15% | ' | ' | ' | ' | ' | 3.86% | 3.49% | ' | ' | ' | 4.55% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.90% | ' | ' | ||||||
Line of Credit Facility, Current Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Jointly Owned Utility Plant, Proportionate Ownership Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.70% | ' | ' | ' | ' | ||||||
Payments of Debt Issuance Costs | ' | ' | ' | ' | ' | ' | 66,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Long-term Pollution Control Bond | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | 29,075,000 | 29,075,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Revenue Bond Issuances | 82,000,000 | [1] | ' | ' | ' | 0 | [1] | ' | ' | 40,000,000 | [1] | ' | ' | ' | ' | ' | 42,000,000 | [1] | ' | 13,000,000 | ' | ' | ' | ' | ' | 0 | [1] | ' | ' | ' | 0 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Senior Debt | ' | ' | ' | ' | ' | ' | ' | 0 | 1,250,000,000 | ' | ' | ' | ' | 0 | 90,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ||||||
Bank Loans Period Of Extension | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '19 months | '18 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Debt Instrument, Description of Variable Rate Basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'one-month LIBOR | 'one-month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Aggregate Principal Amount Of Floating Rate Bank Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 220,000,000 | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Interest Bearing Refundable Deposit Related to Asset Sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | 75,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | 50,000,000 | ||||||
Taxable Revenue Bond | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,500,000 | 12,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Repayments of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Promissory Note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,900,000 | $5,300,000 | $800,000 | $100,000 | ' | ' | ' | ' | ' | ||||||
[1] | Includes remarketing by Gulf Power of $13 million aggregate principal amount of revenue bonds previously purchased and held by Gulf Power since December 2013 and remarketing by Georgia Power of $40 million aggregate principal amount of revenue bonds previously purchased and held by Georgia Power since 2010. |
Retirement_Benefits_Details
Retirement Benefits (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Pension Plans [Member] | Southern Company [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | $53 | $58 | $160 | $174 |
Interest cost | 109 | 97 | 326 | 291 |
Expected return on plan assets | -161 | -151 | -484 | -452 |
Amortization: | ' | ' | ' | ' |
Prior service costs | 6 | 7 | 19 | 20 |
Net (gain)/loss | 28 | 50 | 83 | 150 |
Net cost | 35 | 61 | 104 | 183 |
Pension Plans [Member] | Alabama Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 12 | 12 | 36 | 39 |
Interest cost | 26 | 23 | 78 | 69 |
Expected return on plan assets | -42 | -39 | -126 | -117 |
Amortization: | ' | ' | ' | ' |
Prior service costs | 2 | 2 | 5 | 5 |
Net (gain)/loss | 7 | 13 | 23 | 39 |
Net cost | 5 | 11 | 16 | 35 |
Pension Plans [Member] | Georgia Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 16 | 17 | 47 | 52 |
Interest cost | 39 | 35 | 115 | 104 |
Expected return on plan assets | -57 | -54 | -170 | -160 |
Amortization: | ' | ' | ' | ' |
Prior service costs | 2 | 3 | 7 | 8 |
Net (gain)/loss | 10 | 19 | 30 | 56 |
Net cost | 10 | 20 | 29 | 60 |
Pension Plans [Member] | Gulf Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 4 | 3 | 8 | 8 |
Interest cost | 4 | 4 | 14 | 13 |
Expected return on plan assets | -7 | -6 | -21 | -19 |
Amortization: | ' | ' | ' | ' |
Prior service costs | 0 | 0 | 1 | 1 |
Net (gain)/loss | 1 | 2 | 3 | 6 |
Net cost | 2 | 3 | 5 | 9 |
Pension Plans [Member] | Mississippi Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 3 | 3 | 8 | 8 |
Interest cost | 5 | 5 | 15 | 14 |
Expected return on plan assets | -8 | -7 | -22 | -20 |
Amortization: | ' | ' | ' | ' |
Prior service costs | 0 | 1 | 1 | 1 |
Net (gain)/loss | 2 | 2 | 4 | 7 |
Net cost | 2 | 4 | 6 | 10 |
Other Postretirement Benefits [Member] | Southern Company [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 5 | 6 | 16 | 18 |
Interest cost | 19 | 18 | 59 | 55 |
Expected return on plan assets | -14 | -14 | -44 | -42 |
Amortization: | ' | ' | ' | ' |
Transition obligation | ' | 2 | ' | 4 |
Prior service costs | 1 | 1 | 3 | 3 |
Net (gain)/loss | 1 | 3 | 2 | 9 |
Net cost | 12 | 16 | 36 | 47 |
Other Postretirement Benefits [Member] | Alabama Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 1 | 2 | 4 | 5 |
Interest cost | 5 | 5 | 15 | 14 |
Expected return on plan assets | -6 | -6 | -19 | -18 |
Amortization: | ' | ' | ' | ' |
Transition obligation | ' | 0 | ' | 0 |
Prior service costs | 1 | 1 | 3 | 3 |
Net (gain)/loss | 0 | 0 | 0 | 1 |
Net cost | 1 | 2 | 3 | 5 |
Other Postretirement Benefits [Member] | Georgia Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 2 | 3 | 5 | 6 |
Interest cost | 9 | 8 | 26 | 24 |
Expected return on plan assets | -6 | -7 | -19 | -19 |
Amortization: | ' | ' | ' | ' |
Transition obligation | ' | 1 | ' | 3 |
Prior service costs | 0 | 0 | 0 | 0 |
Net (gain)/loss | 0 | 2 | 1 | 6 |
Net cost | 5 | 7 | 13 | 20 |
Other Postretirement Benefits [Member] | Gulf Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 0 | 0 | 1 | 1 |
Interest cost | 0 | 1 | 2 | 2 |
Expected return on plan assets | 0 | -1 | -1 | -1 |
Amortization: | ' | ' | ' | ' |
Transition obligation | ' | 0 | ' | 0 |
Prior service costs | 0 | 0 | 0 | 0 |
Net (gain)/loss | 0 | 0 | 0 | 0 |
Net cost | 0 | 0 | 2 | 2 |
Other Postretirement Benefits [Member] | Mississippi Power [Member] | ' | ' | ' | ' |
Pension Plans and Postretirement Plans | ' | ' | ' | ' |
Service cost | 0 | 0 | 1 | 1 |
Interest cost | 0 | 1 | 2 | 3 |
Expected return on plan assets | 0 | 0 | -1 | -1 |
Amortization: | ' | ' | ' | ' |
Transition obligation | ' | 0 | ' | 0 |
Prior service costs | 0 | 0 | 0 | 0 |
Net (gain)/loss | 0 | 0 | 0 | 0 |
Net cost | $0 | $1 | $2 | $3 |
Effective_Tax_Rate_and_Unrecog1
Effective Tax Rate and Unrecognized Tax Benefits - Narrative (Details) (USD $) | 9 Months Ended | 1 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 |
Alabama Power [Member] | Alabama Power [Member] | Georgia Power [Member] | Georgia Power [Member] | Gulf Power [Member] | Gulf Power [Member] | Mississippi Power [Member] | Mississippi Power [Member] | Southern Power [Member] | Southern Power [Member] | Kemper Igcc [Member] | Kemper Igcc [Member] | |||
Mississippi Power [Member] | ||||||||||||||
Income Tax Contingency [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective tax rate | 33.90% | 33.90% | 39.00% | 39.30% | 37.20% | 38.00% | 37.40% | 37.60% | -45.50% | -42.10% | 14.40% | 20.50% | ' | ' |
Unrecognized tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100 | $100 |
Unrecognized tax benefit, associated interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | $2 |
Derivatives_Schedule_of_Deriva
Derivatives - Schedule of Derivatives and Gains (Losses) (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Notional amount of interest rate derivatives | ' |
Notional Amount | $350 |
Fair Value Gain (Loss) September 30, 2014 | -2 |
Southern Company [Member] | ' |
Notional amount of interest rate derivatives | ' |
Notional Amount | 250 |
Interest Rate Received | 1.30% |
Cash Flow Hedging [Member] | Alabama Power [Member] | ' |
Notional amount of interest rate derivatives | ' |
Notional Amount | 100 |
Interest Rate Received, Description | '3-month LIBORB |
Weighted Average Interest Rate Paid | 3.07% |
Hedge Maturity Date | 1-Oct-25 |
Fair Value Gain (Loss) September 30, 2014 | -1 |
Fair Value Hedging [Member] | Southern Company [Member] | ' |
Notional amount of interest rate derivatives | ' |
Weighted Average Interest Rate Paid | 0.17% |
Weighted Average Interest Rate Paid, Description | '3-month LIBORB + 0.17% |
Hedge Maturity Date | 1-Aug-17 |
Fair Value Gain (Loss) September 30, 2014 | ($1) |
Gas [Member] | Southern Company [Member] | ' |
Energy-related derivative contracts | ' |
Net Purchased mmBtu | 232,000,000 |
Longest Hedge Date | '2018 |
Longest Non-Hedge Date | '2017 |
Gas [Member] | Alabama Power [Member] | ' |
Energy-related derivative contracts | ' |
Net Purchased mmBtu | 57,000,000 |
Longest Hedge Date | '2017 |
Gas [Member] | Georgia Power [Member] | ' |
Energy-related derivative contracts | ' |
Net Purchased mmBtu | 47,000,000 |
Longest Hedge Date | '2017 |
Gas [Member] | Gulf Power [Member] | ' |
Energy-related derivative contracts | ' |
Net Purchased mmBtu | 77,000,000 |
Longest Hedge Date | '2018 |
Gas [Member] | Mississippi Power [Member] | ' |
Energy-related derivative contracts | ' |
Net Purchased mmBtu | 49,000,000 |
Longest Hedge Date | '2017 |
Gas [Member] | Southern Power [Member] | ' |
Energy-related derivative contracts | ' |
Net Purchased mmBtu | 2,000,000 |
Longest Non-Hedge Date | '2017 |
Derivatives_Balance_Sheet_Pres
Derivatives - Balance Sheet Presentation (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Southern Company [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | $13 | $27 | ||
Derivative Liability, Fair Value, Gross Liability | 56 | 56 | ||
Southern Company [Member] | Hedging Instruments for Regulatory Purposes [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 11 | 23 | ||
Derivative Liability, Fair Value, Gross Liability | 52 | 55 | ||
Southern Company [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 27 | [1] | 26 | [1] |
Southern Company [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 25 | 29 | ||
Southern Company [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 9 | 16 | ||
Southern Company [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | 7 | ||
Southern Company [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | ' | 1 | ||
Southern Company [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | ' | 1 | ||
Southern Company [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 4 | ' | ||
Southern Company [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | 3 | ||
Alabama Power [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 5 | 7 | ||
Derivative Liability, Fair Value, Gross Liability | 12 | 8 | ||
Alabama Power [Member] | Hedging Instruments for Regulatory Purposes [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 5 | 7 | ||
Derivative Liability, Fair Value, Gross Liability | 11 | 8 | ||
Alabama Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 5 | [1] | 3 | [1] |
Alabama Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 6 | 5 | ||
Alabama Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 4 | 5 | ||
Alabama Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 2 | ||
Alabama Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | ' | 0 | ||
Alabama Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | ' | 0 | ||
Alabama Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 1 | ' | ||
Alabama Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | ||
Georgia Power [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 5 | ||
Derivative Liability, Fair Value, Gross Liability | 12 | 21 | ||
Georgia Power [Member] | Hedging Instruments for Regulatory Purposes [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 5 | ||
Derivative Liability, Fair Value, Gross Liability | 12 | 21 | ||
Georgia Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 10 | [1] | 13 | [1] |
Georgia Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 2 | 8 | ||
Georgia Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 3 | ||
Georgia Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 2 | ||
Georgia Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | ' | 0 | ||
Georgia Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | ' | 0 | ||
Georgia Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 0 | ' | ||
Georgia Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | ||
Gulf Power [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 7 | ||
Derivative Liability, Fair Value, Gross Liability | 19 | 17 | ||
Gulf Power [Member] | Hedging Instruments for Regulatory Purposes [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 7 | ||
Derivative Liability, Fair Value, Gross Liability | 19 | 17 | ||
Gulf Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 7 | [1] | 6 | [1] |
Gulf Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 12 | 11 | ||
Gulf Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | 5 | ||
Gulf Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 2 | ||
Gulf Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | ' | 0 | ||
Gulf Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | ' | 0 | ||
Gulf Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 0 | ' | ||
Gulf Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | ||
Mississippi Power [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | 5 | ||
Derivative Liability, Fair Value, Gross Liability | 10 | 10 | ||
Mississippi Power [Member] | Hedging Instruments for Regulatory Purposes [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | 5 | ||
Derivative Liability, Fair Value, Gross Liability | 10 | 10 | ||
Mississippi Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 5 | [1] | 4 | [1] |
Mississippi Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 5 | 6 | ||
Mississippi Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | 3 | ||
Mississippi Power [Member] | Energy Related Derivative [Member] | Hedging Instruments for Regulatory Purposes [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 2 | ||
Mississippi Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | ' | 0 | ||
Mississippi Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | ' | 0 | ||
Mississippi Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 0 | ' | ||
Mississippi Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 | ||
Southern Power [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 1 | ||
Derivative Liability, Fair Value, Gross Liability | 0 | 1 | ||
Southern Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Liabilities from risk management activities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | ' | 1 | ||
Southern Power [Member] | Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other deferred charges and assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | ' | 1 | ||
Southern Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other deferred credits and liabilities [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Liability, Fair Value, Gross Liability | 0 | ' | ||
Southern Power [Member] | Interest Rate Contract [Member] | Cash Flow and Fair Value Hedging [Member] | Other current assets [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | $0 | $0 | ||
[1] | Georgia Power includes liabilities from risk management activities in other current liabilities. |
Derivatives_Balance_Sheet_Offs
Derivatives - Balance Sheet Offsetting (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Southern Company [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | $13 | $27 | ||
Derivative Liability, Fair Value, Gross Liability | 56 | 56 | ||
Alabama Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 5 | 7 | ||
Derivative Liability, Fair Value, Gross Liability | 12 | 8 | ||
Georgia Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | 5 | ||
Derivative Liability, Fair Value, Gross Liability | 12 | 21 | ||
Gulf Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 7 | ||
Derivative Liability, Fair Value, Gross Liability | 19 | 17 | ||
Mississippi Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | 5 | ||
Derivative Liability, Fair Value, Gross Liability | 10 | 10 | ||
Southern Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 1 | ||
Derivative Liability, Fair Value, Gross Liability | 0 | 1 | ||
Energy Related Derivative [Member] | Southern Company [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 1 | 2 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 42 | 34 | ||
Energy Related Derivative [Member] | Alabama Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 1 | 2 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 7 | 3 | ||
Energy Related Derivative [Member] | Georgia Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | 0 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 11 | 16 | ||
Energy Related Derivative [Member] | Gulf Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | 1 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 16 | 11 | ||
Energy Related Derivative [Member] | Mississippi Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | 1 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 8 | 6 | ||
Energy Related Derivative [Member] | Southern Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 1 | 1 | ||
Derivative Liability, Fair Value, Amount Offset Against Collateral | 1 | 1 | ||
Energy Related Derivative [Member] | Net Amount Of Derivatives [Member] | Southern Company [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 12 | [1] | 24 | [1] |
Derivative Liability, Fair Value, Gross Liability | 53 | [1] | 56 | [1] |
Energy Related Derivative [Member] | Net Amount Of Derivatives [Member] | Alabama Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 5 | [1] | 7 | [1] |
Derivative Liability, Fair Value, Gross Liability | 11 | [1] | 8 | [1] |
Energy Related Derivative [Member] | Net Amount Of Derivatives [Member] | Georgia Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | [1] | 5 | [1] |
Derivative Liability, Fair Value, Gross Liability | 12 | [1] | 21 | [1] |
Energy Related Derivative [Member] | Net Amount Of Derivatives [Member] | Gulf Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 3 | [1] | 7 | [1] |
Derivative Liability, Fair Value, Gross Liability | 19 | [1] | 17 | [1] |
Energy Related Derivative [Member] | Net Amount Of Derivatives [Member] | Mississippi Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 2 | [1] | 5 | [1] |
Derivative Liability, Fair Value, Gross Liability | 10 | [1] | 10 | [1] |
Energy Related Derivative [Member] | Net Amount Of Derivatives [Member] | Southern Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 1 | [1] | 1 | [1] |
Derivative Liability, Fair Value, Gross Liability | 1 | [1] | 1 | [1] |
Energy Related Derivative [Member] | Gross Amount Of Derivatives [Member] | Southern Company [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | -11 | [2] | -22 | [2] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -11 | [2] | -22 | [2] |
Energy Related Derivative [Member] | Gross Amount Of Derivatives [Member] | Alabama Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | -4 | [2] | -5 | [2] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -4 | [2] | -5 | [2] |
Energy Related Derivative [Member] | Gross Amount Of Derivatives [Member] | Georgia Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | -1 | [2] | -5 | [2] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -1 | [2] | -5 | [2] |
Energy Related Derivative [Member] | Gross Amount Of Derivatives [Member] | Gulf Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | -3 | [2] | -6 | [2] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -3 | [2] | -6 | [2] |
Energy Related Derivative [Member] | Gross Amount Of Derivatives [Member] | Mississippi Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | -2 | [2] | -4 | [2] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -2 | [2] | -4 | [2] |
Energy Related Derivative [Member] | Gross Amount Of Derivatives [Member] | Southern Power [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 0 | [2] | 0 | [2] |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | $0 | [2] | $0 | [2] |
[1] | None of the registrants offset fair value amounts for multiple derivative instruments executed with the same counterparty on the balance sheets; therefore, gross and net amounts of derivative assets and liabilities presented on the balance sheets are the same. | |||
[2] | Includes gross amounts subject to netting terms that are not offset on the balance sheets and any cash/financial collateral pledged or received. |
Derivatives_Pretax_Effects_of_
Derivatives - Pre-tax Effects of Derivatives Designated as Cash Flow Hedging Instruments (Details) (Energy Related Derivative [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Southern Company [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | ($41) | ($32) | ||
Alabama Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -6 | -1 | ||
Georgia Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -11 | -16 | ||
Gulf Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -16 | -10 | ||
Mississippi Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -8 | -5 | ||
Other regulatory assets current [Member] | Southern Company [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -27 | -26 | ||
Other regulatory assets current [Member] | Alabama Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -5 | -3 | ||
Other regulatory assets current [Member] | Georgia Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -10 | -13 | ||
Other regulatory assets current [Member] | Gulf Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -7 | -6 | ||
Other regulatory assets current [Member] | Mississippi Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -5 | -4 | ||
Other regulatory assets deferred [Member] | Southern Company [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -25 | -29 | ||
Other regulatory assets deferred [Member] | Alabama Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -6 | -5 | ||
Other regulatory assets deferred [Member] | Georgia Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -2 | -8 | ||
Other regulatory assets deferred [Member] | Gulf Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -12 | -11 | ||
Other regulatory assets deferred [Member] | Mississippi Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | -5 | -6 | ||
Other regulatory liabilities current [Member] | Southern Company [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 9 | 16 | ||
Other regulatory liabilities current [Member] | Alabama Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 4 | 5 | ||
Other regulatory liabilities current [Member] | Georgia Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 1 | 3 | ||
Other regulatory liabilities current [Member] | Gulf Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 2 | 5 | ||
Other regulatory liabilities current [Member] | Mississippi Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 2 | 3 | ||
Other regulatory liabilities deferred [Member] | Southern Company [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 2 | [1] | 7 | [2] |
Other regulatory liabilities deferred [Member] | Alabama Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 1 | [1] | 2 | [2] |
Other regulatory liabilities deferred [Member] | Georgia Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 0 | [1] | 2 | [2] |
Other regulatory liabilities deferred [Member] | Gulf Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | 1 | [1] | 2 | [2] |
Other regulatory liabilities deferred [Member] | Mississippi Power [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Total energy-related derivative gains (losses) | $0 | [1] | $2 | [2] |
[1] | Georgia Power includes other regulatory liabilities, deferred in other deferred credits and liabilities.Regulatory Hedge Unrealized Gain (Loss) Recognized on the Balance Sheet at December 31, 2013Derivative Category and Balance SheetLocationB SouthernCompanyB AlabamaPowerB GeorgiaPowerB GulfPowerB MississippiPower (in millions)Energy-related derivatives: Other regulatory assets, currentB $(26)B $(3)B $(13)B $(6)B $(4)Other regulatory assets, deferredB (29)B (5)B (8)B (11)B (6)Other regulatory liabilities, currentB 16B 5B 3B 5B 3Other regulatory liabilities, deferred (a)B 7B 2B 2B 2B 2Total energy-related derivative gains (losses)B $(32)B $(1)B $(16)B $(10)B $(5) | |||
[2] | Georgia Power includes other regulatory liabilities, deferred in other deferred credits and liabilities. |
Derivatives_Narrative_Details
Derivatives - Narrative (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Nov. 06, 2014 | Nov. 06, 2014 |
In Millions, unless otherwise specified | Southern Company [Member] | Alabama Power [Member] | Georgia Power [Member] | Gulf Power [Member] | Mississippi Power [Member] | Southern Power [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
MMBTU | MMBTU | MMBTU | MMBTU | Alabama Power [Member] | Georgia Power [Member] | ||||
Derivatives (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected volume of natural gas subject to option to sell back excess gas due to operational constraints | ' | 7,000,000 | 1,000,000 | 4,000,000 | ' | ' | 1,000,000 | ' | ' |
Derivative, Notional Amount | $350 | $250 | ' | ' | ' | ' | ' | $100 | $900 |
Maximum Potential Collateral Requirements Arising from Credit Risk Related Contingent Features | $26 | ' | $26 | $26 | $26 | $26 | $26 | ' | ' |
Acquisitions_Details
Acquisitions (Details) (Southern Power [Member], USD $) | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | |||||
In Millions, unless otherwise specified | Apr. 17, 2014 | Apr. 17, 2014 | 22-May-14 | 22-May-14 | Nov. 06, 2014 | Nov. 06, 2014 | Nov. 06, 2014 | Nov. 06, 2014 | Nov. 06, 2014 |
Adobe Solar LLC [Member] | Adobe Solar LLC [Member] | Macho Springs LLC [Member] | Macho Springs LLC [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Class A Membership Interest [Member] | Class B Membership Interest [Member] | |
MW | MW | Solar Gen 2 Imperial Valley, LLC [Member] | Solar Gen 2 Imperial Valley, LLC [Member] | First Solar [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||
MW | Solar Gen 2 Imperial Valley, LLC [Member] | Solar Gen 2 Imperial Valley, LLC [Member] | |||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | 90.00% | ' | ' | ' | ' | ' | 100.00% | 100.00% |
Power of solar polycrystalline silicon facility | ' | 20 | ' | 50 | ' | 150 | ' | ' | ' |
Beginning Year Of Output Of Constructed Plant | '2014 | ' | '2014 | ' | ' | ' | ' | ' | ' |
Life Output Of Plant | '20 years | ' | '20 years | ' | '25 years | ' | ' | ' | ' |
Acquisition - cash consideration | $96.20 | ' | $130 | ' | $508 | ' | $128 | ' | ' |
Acquisition - property, plant and equipment | ' | 83.5 | ' | ' | ' | ' | ' | ' | ' |
Acquisition - receivables related to reimbursable transmission costs | ' | 14.5 | ' | ' | ' | ' | ' | ' | ' |
Acquisition - PPA intangible | ' | 6.3 | ' | ' | ' | ' | ' | ' | ' |
Acquisition - bargain purchase gain | 5.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition - deferred tax liability | ' | $2.90 | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Entitled Cash Distributions | ' | ' | ' | ' | ' | ' | ' | 51.00% | 49.00% |
Segment_and_Related_Informatio2
Segment and Related Information - Financial Data for Business Segments (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Number of States in which Entity Operates | 4 | ' | ' | 4 | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | $5,339,000,000 | ' | $5,017,000,000 | $14,450,000,000 | $13,160,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 5,339,000,000 | ' | 5,017,000,000 | 14,450,000,000 | 13,160,000,000 | ' | ||||
Segment net income (loss) | 718,000,000 | [1],[2] | ' | 852,000,000 | [1],[2] | 1,680,000,000 | [1],[3] | 1,230,000,000 | [1],[3] | ' |
Total assets | 67,654,000,000 | ' | ' | 67,654,000,000 | ' | 64,546,000,000 | ||||
Electric Utilities [Member] | ' | ' | ' | ' | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 5,327,000,000 | ' | 5,005,000,000 | 14,408,000,000 | 13,120,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 5,327,000,000 | ' | 5,005,000,000 | 14,408,000,000 | 13,120,000,000 | ' | ||||
Segment net income (loss) | 722,000,000 | [1],[2] | ' | 850,000,000 | [1],[2] | 1,685,000,000 | [1],[3] | 1,241,000,000 | [1],[3] | ' |
Total assets | 66,862,000,000 | ' | ' | 66,862,000,000 | ' | 63,775,000,000 | ||||
Traditional Operating Companies [Member] | Electric Utilities [Member] | ' | ' | ' | ' | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 5,007,000,000 | ' | 4,744,000,000 | 13,594,000,000 | 12,430,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 5,007,000,000 | ' | 4,744,000,000 | 13,594,000,000 | 12,430,000,000 | ' | ||||
Segment net income (loss) | 658,000,000 | [1],[2] | ' | 765,000,000 | [1],[2] | 1,557,000,000 | [1],[3] | 1,099,000,000 | [1],[3] | ' |
Total assets | 62,419,000,000 | ' | ' | 62,419,000,000 | ' | 59,447,000,000 | ||||
Southern Power [Member] | ' | ' | ' | ' | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 103,000,000 | ' | 97,000,000 | 243,000,000 | 264,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 103,000,000 | ' | 97,000,000 | 243,000,000 | 264,000,000 | ' | ||||
Southern Power [Member] | Electric Utilities [Member] | ' | ' | ' | ' | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 435,000,000 | ' | 365,000,000 | 1,115,000,000 | 975,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 435,000,000 | ' | 365,000,000 | 1,115,000,000 | 975,000,000 | ' | ||||
Segment net income (loss) | 64,000,000 | [1],[2] | ' | 85,000,000 | [1],[2] | 128,000,000 | [1],[3] | 142,000,000 | [1],[3] | ' |
Total assets | 4,609,000,000 | ' | ' | 4,609,000,000 | ' | 4,429,000,000 | ||||
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | -22,000,000 | ' | -23,000,000 | -72,000,000 | -68,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | -22,000,000 | ' | -23,000,000 | -72,000,000 | -68,000,000 | ' | ||||
Segment net income (loss) | -2,000,000 | [1],[2] | ' | 3,000,000 | [1],[2] | -5,000,000 | [1],[3] | 1,000,000 | [1],[3] | ' |
Total assets | -512,000,000 | ' | ' | -512,000,000 | ' | -306,000,000 | ||||
Eliminations [Member] | Electric Utilities [Member] | ' | ' | ' | ' | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | -115,000,000 | ' | -104,000,000 | -301,000,000 | -285,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | -115,000,000 | ' | -104,000,000 | -301,000,000 | -285,000,000 | ' | ||||
Segment net income (loss) | 0 | [1],[2] | ' | 0 | [1],[2] | 0 | [1],[3] | 0 | [1],[3] | ' |
Total assets | -166,000,000 | ' | ' | -166,000,000 | ' | -101,000,000 | ||||
All Other [Member] | ' | ' | ' | ' | ' | ' | ||||
Segment and Related Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 34,000,000 | ' | 35,000,000 | 114,000,000 | 108,000,000 | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Operating revenues | 34,000,000 | ' | 35,000,000 | 114,000,000 | 108,000,000 | ' | ||||
Segment net income (loss) | -2,000,000 | [1],[2] | ' | -1,000,000 | [1],[2] | 0 | [1],[3] | -12,000,000 | [1],[3] | ' |
Total assets | 1,304,000,000 | ' | ' | 1,304,000,000 | ' | 1,077,000,000 | ||||
Kemper Igcc [Member] | ' | ' | ' | ' | ' | ' | ||||
Financial data for business segments | ' | ' | ' | ' | ' | ' | ||||
Pre-tax charge to income | 418,000,000 | 380,000,000 | 150,000,000 | 798,000,000 | 1,140,000,000 | 1,180,000,000 | ||||
After tax charge to income | $258,100,000 | $234,700,000 | $92,600,000 | $492,800,000 | $704,000,000 | $728,700,000 | ||||
[1] | After dividends on preferred and preference stock of subsidiaries. | |||||||||
[2] | Segment net income (loss) for the traditional operating companies for the three months ended September 30, 2014 and September 30, 2013 includes a $418.0 million pre-tax charge ($258.1 million after tax) and a $150.0 million pre-tax charge ($92.6 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle b Kemper IGCC Schedule and Cost Estimate" herein for additional information. | |||||||||
[3] | Segment net income (loss) for the traditional operating companies for the nine months ended September 30, 2014 and September 30, 2013 includes $798.0 million in pre-tax charges ($492.8 million after tax) and $1.14 billion in pre-tax charges ($704.0 million after tax), respectively, for estimated probable losses on the Kemper IGCC. See Note (B) under "Integrated Coal Gasification Combined Cycle b Kemper IGCC Schedule and Cost Estimate" herein for additional information. |
Segment_and_Related_Informatio3
Segment and Related Information - Financial Data for Products and Services (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Electric Utilities' Revenues | $5,327 | $5,005 | $14,408 | $13,120 |
Retail [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Electric Utilities' Revenues | 4,558 | 4,319 | 12,186 | 11,237 |
Wholesale [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Electric Utilities' Revenues | 600 | 520 | 1,719 | 1,406 |
Other [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Electric Utilities' Revenues | $169 | $166 | $503 | $477 |